BHP Billiton has completed the transaction to divest 50 per cent of our interest in the undeveloped Scarborough area gas fields to Woodside Energy Limited (Woodside), as announced 5 September 2016.

The transaction includes half of BHP Billiton’s interests in WA-1-R, WA-62-R, WA-61-R, and WA-63-R, for an initial cash consideration of US$250 million and a further US$150 million, payable at the time a future final investment decision is made for the development of the Scarborough gas field.

All required approvals have been secured and relevant documents were signed today to finalise the transaction. BHP Billiton looks forward to working with our joint venture partners to progress the development of Scarborough.