India’s Hindustan Petroleum (HPCL) and its partners will divest 40% of their interests in the WA-388-P gas block, offshore Australia, to Apache Corporation.

The block, located on the North West Shelf, contains seven prospects ranging in size from 0.3 to 2.8 trillion cubic feet of prospective gas resources.

HPCL, Bharat PetroResources, Gujarat State Petroleum and Videocon Industries each have a 14% stake in the block, according to the Press Trust of India.

South Africa’s Sasol has a 30% interest and Australia’s Oilex holds the remaining 14%.

A rig has been contracted by Apache to spud the first well by early 2011.

The block lies north of the Pluto, Wheatstone, Gorgon and North West Shelf fields, offshore Western Australia.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.