11/22/2021, 9:31 AM (Source: TeleTrader)
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BHP, Woodside announce merger, $12B gas project

BHP Group Ltd and Woodside Petroleum Ltd announced on Monday the merger of BHP's oil and gas portfolio with Woodside and confirmed the $12 billion Scarborough Project.

Woodside will develop the Scarborough gas field, located off the coast of Western Australia, and transport the gas through its Pluto LNG facilities. Scarborough is estimated to hold 11.1 trillion cubic feet of dry gas.

"Merging our petroleum business with Woodside creates a large, more resilient company, better able to navigate the energy transition and grow value while doing so," BHP CEO Mike Henry said.

Baha Breaking News (BBN) / IB