A tieback of the Scarborough field into the Pluto LNG plant could well be the next major energy development in Western Australia, after Woodside Petroleum announced a deal to increase its stake in the field.
Tap Oil has announced the resignation of four of the company’s directors, including executive chairman James Menzies and Peter Mansell, with two nominations from major shareholder Risco Energy Investments appointed as replacements.
Shares in AWE jumped 16.5 per cent today after Japanese group Mitsui & Co became the third bidder for the oil and gas producer, which is the operator and half owner of the Waitsia gas field north of Perth.
Japanese group Mitsui & Co. has announced a surprise $600 million takeover bid for AWE, trumping two existing bids for the oil and gas producer, with the main attraction being AWE’s Waitsia gas project north of Perth.
AWE has urged shareholders to take no action on a takeover offer from the state-run energy giant China Energy Reserve and Chemical Group, which remains unchanged from its initial bid of 73 cents per share, after it lodged its bidder's statement.
Melbourne-based Nacap Australia has won the contract to build a 200-kilometre gas pipeline to Gold Road Resources' Gruyere project near Laverton, and is pursuing other significant projects in Western Australia.