China's Sinopec and Taiwan's CPC have agreed to jointly explore the NT/76 permit in the Bonaparte Basin offshore Darwin, Australia. CPC will have a 40% stake in the permit that was awarded to Sinopec in 2008. NT/76 covers 4,715sq km in water depths ranging from 2621,739ft (80-530m) 330km off Darwin. The block holds 11 identified structures that are estimated to hold 13 Tcf (368.3 Bcm) of gas in place.
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