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BHP Billiton Ltd Considers Sale Of UK Petroleum Operations; To Sell Minority Interest In Planned Browse Gas-export Project To PetroChina Co Ltd-DJ

Wednesday, 19 Dec 2012 03:26am EST 

Dow Jones reported that BHP Billiton Ltd is considering exiting its U.K. petroleum operations, including crude oil and natural gas fields and a processing plant, as part of ongoing efforts to tighten the focus of its portfolio of mining and energy assets. The Company has launched a strategic review of the business and is exploring options, include the possible sale of the assets. BHP operates Liverpool Bay, which consists of five producing offshore gas and oil fields in the Irish Sea and the Point of Ayr onshore processing plant in north Wales, and associated infrastructure. It owns a 46.1% stake in the operation, while ENI SpA owns the rest. Earlier this month, BHP agreed to sell a minority interest in the planned Browse gas-export project off Western Australia to PetroChina Co Ltd for USD1.63 billion in cash. 

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