2009-08-19-2007-11-01

Bought 8 upstream acreages, including offshore production-sharing-contract A and B areas, producing Chinguetti oil field in PSC B, offshore blocks 2, 6, 7, onshore blocks Ta 11 and Ta 12.

Petronas Australis Pty Ltd., a subsidiary of the Malaysian national oil and gas company Petroliam Nasional Berhad, Kuala Lumpur, Malaysia, plans to acquire the Mauritanian assets of Woodside Petroleum Ltd., Perth, Australia, (Australia: WPL) for US$418 million. The assets include interests in eight upstream acreages in Mauritania, including in the offshore production-sharing-contract A and B areas, the producing Chinguetti oil field in PSC B, offshore blocks 2, 6 and 7 and onshore blocks Ta 11 and Ta 12. Petronas already has an existing 35% share in Block 6. Except for Block 7, Petronas will assume operatorship in all of the acreages following the acquisition. Woodside is examining its options related to its remaining African assets. Petronas reports the acquisition "reflects Petronas' commitment and its long-term aspirations in Mauritania's oil and gas industry and complements its overall growth strategy in Africa. The acquired acreages also contain significant oil and gas potential in the existing Tiof, Banda, Tevet and Pelican discoveries and in several identified exploration prospects." The deal is expected to close in November.