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Article: Timor Sea Gas Players Hold Swap Meet.(Woodside Energy Ltd.)(Brief Article)
- Article from:
- The Oil Daily
- Article date:
- February 26, 2001
CopyrightCOPYRIGHT 2001 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Timor Sea Gas Players Hold Swap Meet
It seems odd that predator Royal Dutch/Shell and prey Woodside would cooperate on anything these days, but despite the former's hostile bid for the latter, the two companies, along with US Phillips Petroleum, have agreed to coordinate the development of competing gas projects in the Timor Sea.
The agreement involves a realignment of the companies' interests in three Timor Sea projects - Greater Sunrise, Bayu-Undan, and Evans Shoal fields - located offshore northwestern Australia.
Woodside, which has rejected Shell's takeover offer because it believes it is too low, has agreed to sell a 16.39% interest ...