Deals
Exxon, BHP Examining Sale of Joint Australia Oil and Gas Assets
- Partners also plan to market licenses and infrastructure
- BHP share of Bass Strait unit valued at $1 billion: Citigroup
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Exxon Mobil Corp. and BHP Billiton Ltd. are studying plans to sell depleting energy assets in Australia, including the largest oil field ever discovered in the nation.
The producers are considering marketing about 13 fields, licenses and associated infrastructure held in the Gippsland Basin Joint Venture, Exxon’s Esso Australia unit said Wednesday in a statement. Oil and gas production began from the venture in Australia’s Victoria-state in 1969, according to BHP.