Woodside has completed the acquisition of half of BHP Billiton’s Scarborough area assets in the Carnarvon basin, offshore Western Australia.
The acquisition was concluded for a purchase price of US$250 million and a contingent payment of $150 million payable upon a positive final investment decision to develop the Scarborough field.
Under the terms of the agreement, Woodside will acquire 25% interest in WA-1-R and 50% interest in WA-61-R, WA-62-R and WA-63-R. Woodside will operate WA-61-R, WA-62-R and WA-63-R, while ExxonMobil is operator of WA-1-R.
The Scarborough area assets include the Scarborough, Thebe and Jupiter gas fields, which are estimated to contain gross 8.7 Tcf of dry gas resources. Woodside said as a result of this deal, its contingent resources has increased by 462 MMboe.