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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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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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