06/03/2009 - 09:20

Woodside, Korea in Browse Basin deal

06/03/2009 - 09:20

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Woodside Petroleum has reportedly signed an agreement with state-owned Korea Gas Corporation to invest in three exploration permits in the Browse Basin.

Woodside Petroleum has reportedly signed an agreement with state-owned Korea Gas Corporation to invest in three exploration permits in the Browse Basin.

The Business Spectator website reported that both companies signed a memorandum of understanding for a possible farm-in deal.

Woodside holds a 70 per cent interest in each of the three permits while Japanese companies Mitsui have 20 per cent and Toyota Tsusho Corp holds 10 per cent.

South Korea is the second largest importer of natural gas after Japan.

 

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