Woodside in talks to sell stake in Scarborough gas field

The logo for Woodside Petroleum, Australia's top independent oil and gas company, adorns a promotional poster on display at a briefing for investors in Sydney
The logo for Woodside Petroleum, Australia's top independent oil and gas company, adorns a promotional poster on display at a briefing for investors in Sydney, Australia, May 23, 2018. REUTERS/David Gray

MELBOURNE, Aug 30 (Reuters) - Woodside Energy Group (WDS.AX) is in talks with 'high quality' companies looking to buy a stake in its $5.7 billion Scarborough gas project, but won't sell unless it gets the right price, Chief Executive Meg O'Neill said on Tuesday.

The company has been looking to sell down its holding in its biggest growth project on and off for more than 18 months. It now owns 100% following its takeover of BHP Group's (BHP.AX) oil and gas business.

"We're not going to fire sale this critical asset," O'Neill told analysts after reporting a five-fold increase in half-year profit.

Reporting by Sonali Paul; Editing by Kim Coghill

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