ExxonMobil eyes Scarborough deal

A map of the Scarborough Field assets.

A map of the Scarborough Field assets.

ExxonMobil has reportedly invited bids for its 50 per cent stake in the giant Scarborough gas field in the Carnarvon Basin, offshore Western Australia.

The Australian Financial Review (AFR) reports that ExxonMobil has opened a data room for its stake in the field, with Woodside Energy expected to make a bid for the share.

Last year, Woodside completed the purchase of half of BHP Billiton’s Scarborough area assets for US$250 million up front and a further US$150 million to be paid upon a positive Final Investment Decision (FID) on development of the field.

The Scarborough asset areas include the Scarborough, Thebe and Jupiter gas fields which are estimated to contain gross 8.7 Tcf of dry gas resources.

ExxonMobil’s affiliate, Esso Australia Resources Pty Ltd, is the operator and owner of 50 per cent of the Scarborough gas field in a joint venture with BHP Billiton (25 per cent) and Woodside Petroleum (25 per cent).

Discovered in 1979, the Scarborough field is located off the coast of Western Australia approximately 220 km northwest of Exmouth in 900 m of water.

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