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May 25, 2006
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Thursday
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Rabi-us-Sani 26, 1427
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Oil stakes
PARIS, May 24: French oil group Total said on Wednesday it had signed two agreements covering its participation in four new deep-sea oil fields off the north western coast of Australia.
Under a deal with the Australian company BHP Billiton, Total will take a 25 per cent interest in one exploration site. The Chinese oil firm CNOC will also have a 25 percent stake, while BHP Billiton — as project manager — will hold 50 per cent.—AFP
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