BHP Billiton completes sale of offshore Australia joint ventures

Source:BHP Billiton

BHP Billiton has completed the sale of interest in the East Browse and West Browse Joint Ventures to PetroChina. BHP Billiton has completed the sale of its 8.33 per cent interest in the East Browse Joint Venture and 20 per cent interest in the West Browse Joint Venture, located offshore Western Australia, to PetroChina International Investment (Australia) Pty Ltd for US$1.63 billion plus customary purchase price adjustments as announced on 12 December 2012.

All required approvals have been secured and relevant documents were signed today in Beijing to finalise the transaction. This sale reflects BHP Billiton’s exit from the Browse Joint Ventures.

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