Sun Feb 10, 2008 5:10pm EST
SYDNEY, Feb 11 (Reuters) – Woodside Petroleum Ltd, Australia’s second-largest oil and gas producer, said it has agreed to buy Royal Dutch Shell’s oil assets in the North West Shelf off Western Australia for $398.5 million ($359 million).
The acquisition covers an estimated proved and probable (2P) reserves of 21.3 million barrels of oil equivalent (boe) and an additional 9.3 million barrels of contingent resources, Perth-based Woodside said in a statement on Monday.