Woodside Energy Group Shares Jump 3% After INPEX Enters Agreement to Acquire Australian Offshore Gas Resource Joint Venture Stake
MT Newswires Live
May 18
Woodside Energy Group's (ASX:WDS) shares advanced 3% in recent trading on Monday after it acknowledged on Saturday INPEX's disclosure that it has, through a unit, entered into an agreement with PetroChina International Investment (Australia) to acquire PetroChina's 10.67% participating interest in the Browse joint venture.
The development concept for the proposed Browse to North West Shelf project involves processing resources from the Browse offshore gas resource through the North West Shelf project's Karratha gas plant.
The transaction is conditional on rights of pre-emption, among other things, which Woodside will consider as part of its usual transaction review processes.
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