A view shows a logo of Shell petrol station in South East London, Britain, February 2, 2023. REUTERS/May James/File Photo/File Photo
SYDNEY: BP has agreed to buy rival giant Shell’s 27% stake in the Browse joint venture, expanding its holding in Australia’s largest untapped gas resource in a move that could improve the development prospects for the long-stalled project.
The Browse project, estimated to cost US$20.5bil (RM91bil), has been stuck on the drawing board for years but is now being considered as a replacement for ageing gas fields to supply the North West Shelf liquefied natural gas (LNG) plant.
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