Woodside Energy moves to increase its ownership position in the proposed Browse gas field off Western Australia’s north-west coast by pre-empting a stake sale involving Inpex. Multiple outlets report that Woodside is set to pay about $320 million (at least $US225 million) to secure a greater stake after using its veto/pre-emptive rights to stop Inpex from acquiring shares through a deal with PetroChina.
The reports link the move to Inpex’s attempt to buy 10.67% of the Browse project, which sits within a wider development described as a multi-billion-dollar undertaking. One source describes the Browse project as a $49 billion development, while another frames related figures as up to $567 million for the broader transaction involving the PetroChina stake.
Across coverage, the key point is that Woodside blocks Inpex’s planned entry and instead takes the stake itself, using contractual rights to prevent the partner’s sale from proceeding. The sources agree on the broad structure of the arrangement and the approximate value of the payment, while varying in how they describe the overall project size and potential total deal value.
