WOPEY - Woodside says Scarborough FID on track considers infrastructure asset sale

Woodside Petroleum ([[WOPEY]] +3.7%) reaffirms that its Scarborough and Pluto Train 2 liquefied natural gas project is on track for a final investment decision in H2 2021.CEO Peter Coleman says sales including a 50% stake in Pluto Train 2 and part of its Sangomar oil project in Senegal will help the company avoid having to sell new shares to fund its projects.Woodside last year sounded out major oil companies to buy part of its 75% stake in Scarborough to raise funds, but due to the oil and gas price crash this year, but Coleman says "it's just simply not a good time in the market to sell that," and instead it now wants to sell a ~50% stake in Pluto Train 2 to infrastructure investors.Coleman anticipates only a "modest" increase in the previous estimate of $11B to develop Scarborough, as it works on expanding the project by 20% to 8M metric

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Woodside says Scarborough FID on track, considers infrastructure asset sale