Woodside Petroleum recently stated that it has finalized the sale of a 10% non-operational stake in the Scarborough Joint Venture to LJ Scarborough Pty Ltd, alternately known as LNG Japan.
The revenue received by Woodside from this sale amounts to US$910 million. This includes the equity for the Scarborough Joint Venture, and factors in the purchase price, reimbursed expenditure and escalation.
Following this transaction, Woodside holds a 90% stake in the Scarborough Joint Venture and will continue to serve as the primary operator. After the completion of another transaction with JERA, which was announced on 23 February 2024, Woodside's interest will dwindle to 74.9% in the Scarborough Joint Venture.
In recent news, Woodside announced in February 2024 that it had reached a sales agreement with JERA to sell a 15.1% non-operating stake in the Scarborough Joint Venture, in addition to the 10% non-operating stake already sold to LNG Japan.
