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    Woodside Receives Retention Lease Renewal Offers from State of Western Australia

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Summary

Woodside has received retention lease renewal offers for petroleum retention leases WA-28-R, WA-29R, WA-30-R, WA-31-R, WA-32-R, TR/5 and R2.

by: shardul

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Woodside Receives Retention Lease Renewal Offers from State of Western Australia

Woodside has received retention lease renewal offers for petroleum retention leases WA-28-R, WA-29R, WA-30-R, WA-31-R, WA-32-R, TR/5 and R2, from the Commonwealth-Western Australia Offshore Petroleum Joint Authority and the WA Minister for Mines and Petroleum.

Woodside has 30 days to accept the retention lease renewal offers, the company said in a statement Wednesday.   

On Monday, Woodside and the other Browse joint venture participants executed a gas supply deal with state of Western Australia.

Under the agreement, the joint venture has committed to reserve gas equivalent to 15 per cent of production from the state's share of the Torosa reservoir, one of three gas fields that make up the project.

In addition, the Browse joint venture has committed to the development of an integrated supply chain in WA to provide port, marine, aviation, storage and transport services over the life of the project.

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