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BHP Billiton PLC  -  BLT   

Sale of interest in Browse Joint Ventures

Released 07:00 12-Dec-2012

RNS Number : 3078T
BHP Billiton PLC
11 December 2012
 



NEWS RELEASE

Release Time

IMMEDIATE

Date

12 December 2012

Number

28/12

 

BHP BILLITON TO SELL INTEREST IN EAST AND WEST BROWSE JOINT VENTURES

 

BHP Billiton has signed a definitive agreement with PetroChina International Investment (Australia) Pty Ltd to sell 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, for a cash consideration of US$1.63 billion. The transaction is subject to regulatory approval and other customary conditions. Completion is expected in the first half of calendar year 2013.

BHP Billiton Chief Executive Petroleum, J Michael Yeager, said: "This is an excellent opportunity for both companies. PetroChina has acquired an interest in a world class gas resource and BHP Billiton has exited a non-strategic asset."

The Browse Joint Venture participants hold a right to offer to match the transaction with respect to BHP Billiton's interests in the East and West Browse Joint Ventures and have a customary period to consider whether to make an offer to match.

Further information on BHP Billiton can be found at: www.bhpbilliton.com.

 

About PetroChina:

PetroChina Company Limited is China's largest oil and gas producer and distributor, playing a leading role in the oil and gas industry in that country. It is also one of the largest oil companies in the world. It is listed on the New York Stock Exchange, the Stock Exchange of Hong Kong Limited and on the Shanghai Stock Exchange.

 

Media Relations

 Australia                                             

 

Antonios Papaspiropoulos

Tel: +61 3 9609 3830  Mobile: +61 477 325 803 

email: Antonios.Papaspiropoulos@bhpbilliton.com

 

Fiona Hadley

Tel: +61 3 9609 2211  Mobile: +61 427 777 908 

email: Fiona.Hadley@bhpbilliton.com 

Eleanor Nichols

Tel: +61 3 9609 2360  Mobile: +61 407 064 748 email: Eleanor.Nichols@bhpbilliton.com

United Kingdom

 

Ruban Yogarajah

Tel: +44 20 7802 4033  Mobile:  +44 7827 082 022

email: Ruban.Yogarajah@bhpbilliton.com   

Americas

Jaryl Strong
Tel:  +1 713 499 5548  Mobile: +1 281 222 6627
email: Jaryl.Strong@bhpbilliton.com

Investor Relations

 

Australia                                             

 

James Agar

Tel: +61 3 9609 2222  Mobile: +61 467 807 064

email:  James.Agar@bhpbilliton.com

 

Andrew Gunn

Tel: +61 3 9609 3575  Mobile: +61 439 558 454

email: Andrew.Gunn@bhpbilliton.com

 

United Kingdom and South Africa

 

Tara Dines

Tel : +44 20 7802 7113  Mobile : +44 7825 342 232

Email : Tara.Dines@bhpbilliton.com

 

Americas

Brendan Harris

Tel: +44 20 7802 4131  Mobile: +44 7990 527 726

email: Brendan.Harris@bhpbilliton.com

 

Matt Chism

Tel: +1 71 359 96158  Mobile: +1 281 782  2238

email: Matt.E.Chism@bhpbilliton.com

 

 

BHP Billiton Limited ABN 49 004 028 077

Registered in Australia

Registered Office: 180 Lonsdale Street

Melbourne Victoria 3000 Australia

Tel +61 1300 55 4757 Fax +61 3 9609 3015

 

BHP Billiton Plc Registration number 3196209

Registered in England and Wales

Registered Office: Neathouse Place

London SW1V 1BH United Kingdom

Tel +44 20 7802 4000 Fax +44 20 7802 4111

Members of the BHP Billiton Group which is headquartered in Australia

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Sale of interest in Browse Joint Ventures - RNS