Woodside Completed 10% Stake Sale in Scarborough JV

SEATTLE (Oil Monster): Australia-based Woodside Energy Group Ltd. announced that it has completed the sale of 10% non-operating participating interest in the Scarborough Joint Venture to LNG Japan. Woodside had acquired equity in the Scarborough Joint Venture in August last year. The proceeds from the sale are estimated at around $910 million.

Following the sale, Woodside will now hold 90% interest in the Scarborough Joint Venture and will remain as operator.

Welcoming the completion of the sale, Meg O’Neill, CEO, Woodside noted that the completion of the sale to o LNG Japan is a significant milestone as we progress toward first LNG cargo from Scarborough targeted in 2026.

In addition to the sale of a 10% non-operating participating interest Woodside announced in February 2024 it had entered into a sale and purchase agreement with JERA for the sale of a 15.1% non-operating participating interest in the Scarborough Joint Venture. Accordingly, Woodside’s interest in the Scarborough Joint Venture will be 74.9%.

The Scarborough field is located approximately 375 km off the coast of Western Australia. The gas from the field will be processed at the Pluto LNG facility, where Woodside is currently constructing Pluto Train 2. Pluto LNG and Pluto Train 2 will be operated by Woodside.

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