Woodside Energy acquired half of BHP Billiton assets in Western Australia offshore

Woodside Energy offshoreThe Australian oil company Woodside Energy acquired half from the assets of BHP Billiton at Scarborough area, located in Carnarvon Basin. The transaction includes 25% share from WA-1-R and a 50% share from WA-62-R, both at Scarborough gas field, as well as 50% share from WA-61-R and WA-63-R at Jupiter and Thebe gas fields. The Australian oil company Woodside Energy will be operator of WA-61-R, WA-62-R and WA-63-R fields, while ExxonMobil will be the operator of WA-1-R field. According to the agreement, Woodside will pay 250 million USD and contingent payment of 150 million USD in case of final investment decision to develop the field.

“Adding Carnarvon Basin volumes to the Australian portfolio would complement Woodside’s growth strategy and leverage the company’s deep water and LNG capabilities”, said the CEO of Woodside, Peter Coleman.

The assets contain gross 8.7 trillion cubic feet of gas resources at the 2C confidence level. The Woodside’s net share of the resources is estimated to be 2.6 trillion cubic feet of gas. The transaction is subject of approval from the local authorities and antitrust commission in Australia. The decision is scheduled before the end of the year, when the deal will be finalized.

Woodside Energy is an Australian oil and gas company with a global presence, recognized for its world-class capabilities – as explorer, developer and producer of offshore oil and gas.