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Article: Australia: Woodside Sells Otway Stake to Origin for $646 Million.
- Article from:
- TendersInfo
- Article date:
- November 3, 2009
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Byline: manish03
Woodside Petroleum Ltd., operator of the Pluto liquefied natural gas venture in Western Australia, agreed to sell its stake in the Otway project off the southeast coast to Origin Energy Ltd. for A$713 million ($645 million).
Origin Energy, Australia s second-largest electricity and gas retailer, will become operator of the Otway assets after the purchase of Woodside s 51.6 percent stake, the companies said in statements today. Origin already has a 30.8 percent interest.
Clearly Woodside s view is their resources are best concentrated in the west, Grant King, Origin s managing director, said today in a conference call with ...