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Australia – King & Wood Mallesons Advises On Petrochina’s Acquisition Of BHP’S Interests In Browse Project.

12 December, 2012

 

King & Wood Mallesons has advised PetroChina International Investment (Australia) Pty Limited, a subsidiary of PetroChina, on the acquisition of a 8.33 per cent interest in the East Browse joint venture and a 20 per cent interest in the West Browse joint venture from BHP Billiton for US$1.630 billion.

Subject to regulatory approval and other customary conditions, the acquisition is expected to complete in the first half of 2013.


The East Browse joint venture and the West Browse joint venture are a part of a world class gas resource located off the coast of Western Australia. 

PetroChina is the largest oil and gas producer and distributor in China and one of the largest oil and gas companies in the world. It is listed on the New York Stock Exchange, the Stock Exchange of Hong Kong Limited and on the Shanghai Stock Exchange.


The team at King & Wood Mallesons was led by Hong Kong Partner Joshua Cole who was supported by Partners David Perks, Tim Warman and Sally Audeyev from our Perth Office. 


“The acquisition is a significant strategic investment for PetroChina, and will enable them to participate in another major LNG facility project in Australia,” noted Joshua Cole. “We are extremely happy to have been able to work with PetroChina on this important strategic investment and hope that we can continue to strengthen our relationship with this iconic Chinese business.”

 

For further information, please contact:

 

Helen Chan, King & Wood Mallesons
[email protected] 

 

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