Woodside completes sale of minority interest in Browse LNG

Offshore staff

PERTH, Australia – Woodside Petroleum Ltd. (WPL:AU/WOPEY:US) reports completing the sale of part of its Browse LNG development equity to Japan Australia LNG (MIMI) for $2 billion.

MIMI now has 16% interest in the East Browse joint venture and 8% in the West Browse joint venture, or a combined 14.7% on an assumed unitized basis.

Woodside remains operator with its interest reduced from 46% to 31.3%.

Recently, Shell Development (Australia) Pty Ltd traded with Chevron for an interest in the Browse LNG development.

9/18/2012

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