Woodside Buys Out Shell Stake in N West Shelf

Evening Standard - London › February 11, 2008

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Summary

AUSTRALIA'S Woodside Petroleum, operator of Australia's North West Shelf venture, is buying out Royal Dutch Shell's oil stakes in the partnership for $398.5 million (Pounds 204.8 million).

In a related agreement, Shell, which owns 34% of Woodside, will have a right of final offer for Woodside's assets in Libya should Woodside agree to proceed with the sale. The Aussie firm says any sale of its Libyan interests will be subject to an acceptable offer and approvals by Libyan authorities.

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Woodside Buys Out Shell Stake in N West Shelf

The A$20 billion (Pounds 9.2 bill...

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