The acquisition has been completed for $250m as purchase price and a contingent price of $150m. The payment of contigent price depends on a final investment decision to develop the field.
The deal was entered in September this year and the assets are located in the Carnarvon Basin, located offshore in Western Australia.
As per the sale and purchase agreements, Wooside has now acquired 25% interest in WA-1-R and a 50% interest in WA-61-R, WA-62-R and WA-63-R. Woodside will operate WA-61-R, WA-62-R and WA-63-R. ExxonMobil is the operator of WA-1-R.
The Scarborough area assets include the Scarborough, Thebe and Jupiter gas fields, where an estimated gross volume of 8.7 trillion cubic feet (Tcf) of dry gas resources could be present, at 2C level of confidence.
After the acquisition, Woodside’s net share of the resources was estimated to be 2.6 trillion cubic feet of gas.
In July, Woodside signed an agreement to acquire ConocoPhillips’ deepwater stakes in Senegal for $430m.
Under the terms of the agreement, Woodside will acquire 100% stake in ConocoPhillips Senegal, which owns 35% interest in a production sharing contract with the Government of Senegal.
The contract covers three offshore exploration blocks including Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore.
