The Energy Chamber of Trinidad & Tobago has noted the recent announcement concerning the merger of BHP’s petroleum business with Australian independent gas producer, Woodside, subject to negotiations and regulatory approval.
The merger is expected to be completed during the second quarter of the 2022 calendar year.
According to BHP, merging BHP’s Petroleum assets with Woodside will unlock synergies and increase value and choice for BHP shareholders. The combined business will offer ongoing value during the energy transition.
The merged company would be owned 52 per cent by existing Woodside shareholders and 48 per cent by BHP shareholders.
Woodside led the development of the LNG industry in Australia and has a robust hydrocarbon business with a focus on LNG and significant deepwater experience. They are Australia’s leading LNG operator.
The company delivered 6% of global LNG supply in 2020, with a total production of 100.3 mmboe.
The company operates two FPSOs offshore West Australia and is currently in the process of developing the Scarborough project, a major deep-water gas project in Western Australia that is proposed to deliver gas for LNG production at the existing Pluto LNG facility.