Woodside Completes Sale of Mauritania Interest to Petronas

Woodside announced today that the sale of its Mauritanian interests is complete. Petronas Australia Pty. Limited agreed to buy the interests in September 2007 for U.S. $418 million.

Petronas will now have significant interests in eight upstream acreages in Mauritania, including offshore PSC A and PSC B areas; the producing Chinguetti oil field in PSC B; offshore Blocks 2, 6 and 7; and onshore Blocks Ta11 and Ta12.

Petronas already held a 35% interest in Block 6, and except for Block 7, the company will now assume operatorship in all the acreages involved in the acquisition.

Many of the acreages show significant oil and gas potential in the existing Tiof, Banda, Tevet and Pelican discoveries and in numerous identified exploration prospects.


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