16th Feb 2015 06:44
LONDON (Alliance News) - BHP Billiton PLC has agreed a deal to sell its Pakistan gas business to a local operator for an undisclosed amount, Reuters reported on Sunday.
BHP is selling the unit to a unit of the Hashoo Group conglomerate and expects the deal to close in the fourth quarter, Reuters said, citing a statement from the company.
BHP has been seeking to sell its 38.5% stake in the Zamzama gas field, for which it is the operator, for some time as it works to refocus its petroleum business on the US, Australia and Trinidad and Tobago.
http://www.reuters.com/article/2015/02/16/bhp-billiton-pakistan-idUSL4N0VQ1AP20150216
By Sam Unsted; [email protected]; @SamUAtAlliance
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