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Shell gains Chevron's interest in East Browse and West Browse in exchange from interest in Clio and Acme (Swap Deal 12473)

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20 August 2012

Shell gains Chevron's interest in East Browse and West Browse in exchange from interest in Clio and Acme (Swap Deal 12473)

Report summary

In August 2012, Chevron and Shell announced a major asset swap involving five fields that are key to a future wave of Australian LNG. Chevron agreed to sell its stake in three giant Browse gas fields, Torosa, Brecknock and Calliance, in exchange for Shell's equity in the Chevron-operated Clio and Acme fields. Chevron will also receive a consideration of US$450 million.The deal simplifies the equity structure of the assets, and provides the Browse LNG and Wheatstone expansion projects ...

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    Shell gains Chevron's interest in East Browse and West Browse in exchange from interest in Clio and Acme (Swap Deal 12473)

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