Woodside’s acquisition remains subject to customary conditions precedent, including regulatory approvals. The company’s equity interest in the BJV after completion of the acquisition will increase to 41.27%, assuming no other joint venture participant pre-empts. Liz Westcott , Woodside’s CEO, emphasized that the current levels of interest in Browse, reflected in both the CNPC/Inpex transaction and BP’s announced transaction with GS Energy, reinforce the quality and scale of the resource.

Discovered between 1971 and 2000, the Browse fields are estimated to contain a combined contingent resource of about 13.9 trillion cubic feet of dry gas and approximately 390 million barrels of condensate. An economic impact assessment by Deloitte Access Economics estimates that the Browse to North West Shelf project could contribute a long-term uplift of around A$147 billion ($102.9 billion) in gross state product for Western Australia and more than A$141 billion ($98.7 billion) in gross domestic product (GDP) nationally.