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Woodside Petroleum Ltd (ASX:WPL) has launched a more than $1 billion auction of the majority of its stake in the Browse gas project in Western Australia. That’s according to The Australian.
The paper says it’s a move that could end the controversial plans to build a processing plant on the Kimberley coast.
The Australian says Woodside is likely to reduce its 50 per cent stake in Browse to just under 17 per cent.
In the first half of the 2011 financial year Woodside Petroleum posted a net profit of $772 million.
News: Woodside Browse sale
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