Maxus

The Neptune deepwater project has been given the green light by partners Marathon Oil (30%), BHP Billiton (35% and operator), Woodside Petroleum (20%) and Maxus (US) Exploration, a subsidiary of Repsol YPF with a 15% stake. The project is expected to produce 50,000 boe/d, including up to 50 MMcf/d of natural gas, starting in late 2007.