BHP Group and Woodside Petroleum Ltd. approved investment in a $12 billion Australian gas project as the companies also confirmed details of a merger to combine their energy assets.
BHP agreed in August to merge its oil and gas business with Woodside to create a top 10 global energy producer. The deal, which is expected create synergies of over $400 million, is slated to be completed in the second quarter of 2022, pending shareholder approval, the Melbourne-based company said in a statement Monday.
