Woodside Strikes Over A$1 Billion Deal With Landowners Over Browse

SYDNEY (Dow Jones)

Woodside Petroleum Ltd. (WPL.AU) said Thursday that it has signed an agreement with landowners allowing it to develop the massive Browse gas export project in Western Australia state.

Woodside said the agreement with the Goolarabooloo Jabirr Jabirr native title claim group includes initiatives worth over A$1 billion, such as education, training and employment programs, support for indigenous businesses and payments when project milestones are met.

The Browse joint venture also includes Royal Dutch Shell PLC (RDSB.LN), Chevron Corp. (CVX), BHP Billiton Ltd. (BHP.AU) and BP PLC. (BP.LN).

It's planning to give final approval to the development, estimated by analysts to cost more than $30 billion, by mid-2012.

Copyright (c) 2011 Dow Jones & Company, Inc.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Gas Storage Reservoir Engineer
Expertise: Petroleum Engineering
Location: Houston, TX
ARAMCO QM20 Third Party Inspector
Expertise: Electrical Engineering|QA / QC / Inspection|Technical Writing
Location: Bolingbrook, IL
United States Odessa: Sr Field Engineer - Directional Drilling
Expertise: Directional Driller|Drilling Engineering
Location: Odessa, TX
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours