Woodside gunning for Scarborough stake

A map of the Scarborough gas field.

A map of the Scarborough gas field.

Woodside Energy has said it will raise $2.5 billion to fund the purchase of ExxonMobil’s stake in the Scarborough gas field, offshore Western Australia.

Woodside agreed to buy ExxonMobil’s 50 per cent stake in Scarborough for up to $744 million, with part of that due pending a final investment decision (FID) on developing the field.

Woodside will raise the funds from its shareholders, and the potential deal would see Woodside control a 75 per cent stake in the Scarborough field.

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