UPDATE 1-Exxon, BHP to develop Australian natural gas project [Reuters]
BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP)
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Source: Reuters
Exxon, BHP to develop Australian natural gas project | Reuters 2 Min Read (Reuters) - Exxon Mobil Corp and the world’s top miner BHP Billiton said on Thursday they approved development of the West Barracouta gas field in the Gippsland Basin in Australia, to bring fresh gas to Australian domestic markets. Exxon said the project, located off the shore of the state of Victoria, is part of its continuing investment in the Gippsland Basin, an area rich in oil and gas. BHP will invest about A$200 million ($144.36 million) in the gas field, the miner said in a separate statement. Rising natural gas prices has become a political issue in Australia as households and manufacturers complain of higher costs, especially in the country’s more populous east coast. The Gippsland Basin joint venture continues to supply about 40 percent of east coast Australian domestic gas demand, Exxon said, adding that front-end engineering design work for the project was completed and key contracts awarded. “The We
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- BHP's page on the SEC website