Woodside and BHP have come together with two of their offshore permits at the Scarborough liquefied natural gas (LNG) development offshore Western Australia.
The joint venture will see Woodside’s share Scarborough and North Scarborough title to 73.5 per cent, and BHP to 26.5 per cent in each title, as part of the agreement.
Woodside chief executive officer Peter Coleman said aligning the interests would support the development of the Scarborough field across the two titles and demonstrated the strong commitment of the joint venture to make a final investment decision (FID) this year.
The Scarborough field contains an estimated contingent resource (2C) dry gas volume of 11.1 Tcf and is located mainly within the WA-1-R lease in the Carnarvon Basin.
Woodside has reported that it is targeting a final investment decision for the Scarborough development in 2020 and first cargo in 2024.
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