Woodside advises that it has agreed to the sale of its Mauritanian interests to PETRONAS Australia Pty Limited, a subsidiary of the Malaysian Government-owned oil and gas company Petroliam Nasional Berhad.
The sale includes all Woodside’s onshore and offshore producing, development, and exploration interests in Mauritania.
PETRONAS will purchase all the shares in Woodside Mauritania Pty Ltd and WEL Mauritania B.V. for US$418 million, based on an effective date of 1 January 2007. The sale is expected to close in November, subject to regulatory approvals. The final purchase price will be adjusted to reflect the closing date.
Woodside continues to examine its options in relation to its remaining African assets.