2009-08-19-2007-11-01

JV on 25% interest in Australia's NT/P48 permit, includes Evans Shoal JV in Timor Sea.

Petronas Carigali (Australia) Pty Ltd., a subsidiary of Malaysia's state-owned Petronas, Kuala Lumpur, Malaysia, will joint venture with Shell Development (Australia) Pty Ltd., a unit of Royal Dutch Shell, (NYSE: RDS) on a 25% interest in Australia's NT/P48 permit, which includes the Evans Shoal joint venture in the Timor Sea offshore Australia's Northern Territory. The new equity structure for the joint venture will be SDA 25%, Petronas Carigali (Australia) 25%, Santos 40% and Osaka Gas 10%. Santos will remain operator. SDA chief operating officer Chris Gunner says, "We believe that Petronas, a company with strong LNG supply reliability and marketing credentials, will be a valuable participant in the Evans Shoal JV."