Former Perth fertiliser tycoon Pankaj Oswal's 65 per cent interest in the company was stripped by the ANZ, along with subsidiary Burrup Fertilisers, in December 2010.

ANZ cited "financial irregularities" and appointed receivers PPB to recoup about $860 million in Oswal debt.

Mr Oswal and his wife Radhika have been tied up in multiple court proceedings, involving a complicated web of legal actions and counter suits, ever since.

The $700 million liquefied ammonia plant on the Burrup Peninsula near Karratha in WA's Pilbara, is one of the largest in the world producing up to 760,000 metric tons a year.

The sale of Burrup is expected to go ahead in the coming week after Houston-based Apache made a $560 million offer for the Oswal stake after successful negotiations last month.

Apache also confirmed plans to continue developing a technical ammonium nitrate plant on the Burrup Peninsula, designed to tap into the explosives supply market for booming iron ore mines in the Pilbara.

Apache currently operates the Harriet joint venture, which supplies gas to the Burrup plant.

Apache chairman and chief executive G. Steven Farris previously said the investment decision was spurred by the company's desire to stabilise the project and secure the WA market for Apache's gas.

However, with a 35 per cent interest in Burrup, Yara has an automatic right to counterbid on the offer.

Some media outlets have reported Yara and Apache were this week in talks to split the Oswal stake.

A Yara spokesman said the company would not comment on the speculation, instead saying "Yara continues to consider its position as part of its pre-emptive rights regarding the parcels of shares being offered by the receiver."

Apache declined to comment further on Burrup.

Yara has until next Tuesday to make a move.