Australia: TotalEnergies acquires a 26% stake in Cash-Map gas discoveries – 08/21/2023 at 08:52

(AOF) – TotalEnergies and INPEX have signed an agreement with PTTEP for the acquisition of the 100% interest held by PTTEP in the AC-RL7 license in Australia. Under the terms of this agreement, which remains subject to the approval of the competent authorities, TotalEnergies will acquire a 26% stake in the permit, corresponding to its share in Ichthys LNG, while INPEX will acquire the remaining 74% and will assume the role operator. The permit covers an area of ​​418 km² located in the Timor Sea, approximately 250 kilometers northeast of the Ichthys offshore facilities.

This permit includes the Cash and Maple condensate gas fields, discovered respectively in 2002 and 1989 and then assessed by several other wells.

The development of these fields is expected to contribute to the long-term supply of the natural gas (LNG) liquefaction plant of Ichthys LNG, of which TotalEnergies is a 26% partner, INPEX and other shareholders. minority Asians holding the remaining 74%.

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