Woodside Buys 10.67% Browse Stake for $225M

Transaction Overview

Woodside Energy Ltd (ASX:WDS) exercised a pre‑emptive right to acquire PetroChina’s 10.67% interest in the Browse gas fields located off Western Australia, paying $225 million to PetroChina and reimbursing cash‑call contributions made since mid‑2025. The acquisition blocks a previously contemplated sale of the same stake to Japan’s Inpex Corp (TYO:1605).

Ownership Impact

Following the transaction, Woodside’s holding in the Browse venture rises to 41.27%, making it the largest shareholder in one of Australia’s largest undeveloped gas resources.

Contingent Payment to Inpex

The agreement provides for a contingent payment of up to $175 million to Inpex, payable only if the Browse venture reaches a final investment decision to develop the Brecknock, Calliance and Torosa fields.

Market Reaction

Woodside shares declined by more than 2% after the announcement, a move compounded by a simultaneous fall in global oil prices.