27 April 2024
Woodside bullish on Pluto expansion amid Japanese M&A interest
Publication date: 20 October 2011
Gas Strategies Group
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Australia’s Woodside Petroleum said it will release early one of the two rigs exploring for gas to expand its A$14.9 billion Pluto project, but said the move won’t drastically set back its exploration efforts. And any equity raising by Woodside to fund project growth is expected to be restricted due to a possible delay in Shell selling its stake in the company. JP Morgan has identified Japan’s Mitsubishi and Mitsui as potential buyers of the stake, along with BHP Billiton.