Karoon Gas sells Browse Basin stakes

摘要

Singapore—After a year of negotiations with several companies, Australian explorer Karoon Gas has agreed to sell its 40% stakes in two highly prospective offshore gas blocks to Origin Energy for up to $800 million. Origin has agreed to buy Karoon’s stakes in ConocoPhillips-operated permits WA-315-P, and WA-398-P in the gas-rich Browse Basin, offshore northwestern Australia. Karoon said Monday that it expects the deal to be completed during the third quarter of this year.