Woodside Petroleum Ltd. (WPL.AU) plans to take part in a consortium to bid for natural gas exploration blocks offshore Cyprus, Chief Executive Peter Coleman said Monday, in the latest sign of international interest in an emerging energy province following a series of big discoveries.
Woodside Petroleum Ltd. (WPL.AU) plans to take part in a consortium to
bid for natural gas exploration blocks offshore Cyprus, Chief Executive Peter
Coleman said Monday, in the latest sign of international interest in an
emerging energy province following a series of big discoveries.
Coleman told a conference that the bid plans reflected a desire to expand
Woodside's global footprint to balance better its scale in
Australia
,
where it operates two multibillion-dollar gas-export projects--the North West
Shelf and Pluto--with ambitions to lead the development of two more.
He didn't say which companies will join it in the bid consortium, or when the
tender process for the blocks will take place.
Interest in the eastern
Mediterranean
's
potential has grown following the discovery of the Tamar and Leviathan fields,
estimated to contain up to 9 trillion cubic feet of natural gas and 16 trillion
cubic feet, respectively, offshore
Israel
in
recent years by Woodside's competitors.
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