Mergers & Acquisitions ·
Woodside agrees to sell Greater Sunrise interest to Timor Gap for up to $200M
WOPEFWoodside Energy Group Ltd
Woodside Energy Group has entered into an agreement with Timor Gap to sell its 33.44% participating interest in the Sunrise Joint Venture, including titles containing the Greater Sunrise fields, for total consideration of up to $200 million. The transaction structure includes US$13.71 million payable on completion, US$11.29 million following an affirmative Final Investment Decision, and US$175 million within 365 days of the commencement of loading of the first LNG cargo. Completion is subject to regulatory and joint venture approvals, with a target date in H1 2027. Following completion, Woodside will no longer hold an interest in the Sunrise Joint Venture. Woodside Energy Group Ltd operates as an independent energy company focused on the exploration, development, production, transportation, sale, and marketing of petroleum.