Joint Ventures / Partnerships

Woodside and BHP Align Scarborough Project Stakes

By Shriya Bhargava
February 27, 2020
a few seconds read
Offshore Oil Rig

Australian E&P company Woodside Petroleum Ltd. and Anglo-Australian resources major BHP Group Ltd. have entered into an agreement to align their ownership interests across two Scarborough project titles in the Carnarvon Basin off the coast of Western Australia. Woodside will transfer a 1.5% interest in WA-1-R containing the Scarborough gas field to BHP, and acquire a 23.5% interest in WA-62-R containing the North Scarborough gas field. As a result, Woodside will hold a 73.5% interest in each title, with BHP holding the remaining 26.5%. The companies now plan to apply for production licenses for both titles, which form part of the Greater Scarborough area that also includes the Jupiter (WA-61-R) and Thebe (WS-63-R) gas fields. Woodside and BHP currently operate Jupiter and Thebe through a 50:50 joint venture.

Free Trial
Finbrook Databases
Free Trial
Get a 7-Day Free Trial
Get free access to our global upstream oil & gas M&A, Financing and corporate database
Select a License
Access our Global Upstream Oil & Gas M&A, Financing and Corporate Database
Quick registration, online payment and instant access