- Woodside Petroleum (OTCPK:WOPEF) is reportedly seeking to reduce its stakes in the Scarborough gas field in Australia and Canada’s Kitimat liquefied natural gas project to cut its capital exposure.
- Woodside holds a 75% stake in the Scarborough gas field and 50% of the Kitimat project in Canada is operated by Chevron (NYSE:CVX)
- It is speculated that Saudi Aramco (ARMCO) could be interested in Scarborough
- Woodside wants to take a final investment decision on developing the $11B Scarborough field in 2020 but warned last month it was at the mercy of its partners to lock down some of its projects plans.
- In Canada, Chevron and Woodside are yet to propose a date for a final investment decision on the Kitimat LNG project, having expanded its planned size to 18 mtpa in April.