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Paladin has announced it planned to buy BHP's stakes in the two Timor Sea fields for $US150 million (A$195 million).
Woodside Petroleum, the major shareholder in these fields, told an investor briefing this morning in Sydney that it was looking for tie-back opportunities in its Australian operations and pursuing infill opportunities at Laminaria in particular. It also said it was looking to realise new growth at the Jahal and Kuda Tasi fields, which are near to Laminaria and Corallina.
Woodside has been wanting to tieback the Jahal and Kuda Tasi fields to the Northern Endeavour floating production storage and offloading vessel as a means of offsetting declining natural production in Laminaria and Corallina. But BHP has been opposing the tieback.
Woodside is expected to make a decision on whether to exercise its pre-emptive right in the next few days.
