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Mining Weekly reported that BHP Billiton Ltd. (NYSE:BHP,ASX:BHP,LSE:BLT) has agreed to sell its gas business in Pakistan to a local firm for an undisclosed amount.
Mining Weekly reported that BHP Billiton Ltd. (NYSE:BHP,ASX:BHP,LSE:BLT) has agreed to sell its gas business in Pakistan to a local firm for an undisclosed amount.
As quoted in the market news:
BHP, operator of the Zamzama gas field and processing plants, has been looking to sell its 38.5% stake for some time, as it works to simplify its petroleum business to focus on the United States, Australia, and Trinidad and Tobago.
BHP stated in an emailed statement:
The transaction is subject to regulatory approval and is expected to close in the fourth quarter of 2015.