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EXXONMOBIL TO SELL STAKES IN 2 WEST AUSTRALIAN OILFIELDS.
SYDNEY, July 1 Asia Pulse - Oil giant ExxonMobil has put its stakes in two West Australian oilfields on the market, saying they no longer fitted as part of its portfolio of Australian holdings.
ExxonMobil announced today it would sell its shares of the Wandoo and Woollybutt oilfields, with the deal expected to be concluded by the end of the year.
The company holds 60 per cent of the Wandoo operation, with the remaining 40 per cent held by Japanese company Mitsui.
It is also the operator of Wandoo.
ExxonMobil has 20 per cent of the Woollybutt field, with Italian oil company Agip, the project's operator, owning 65 per cent and Australian firm Tap Oil (ASX:TAP) holding the remaining 15 per cent.
A spokeswoman for ExxonMobil said the sale would not be through a public tender but rather the company would be approaching potential buyers directly.
ExxonMobil spokeswoman Anna Schulze said the sale was proceeding because the two oil fields did not fit into the company's asset ...
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Source: HighBeam Research, EXXONMOBIL TO SELL STAKES IN 2 WEST AUSTRALIAN OILFIELDS.