Rick Wilkinson
OGJ correspondent
MELBOURNE, Oct. 5 -- BHP Billiton Ltd., Melbourne, plans to buy depleted Tubridgi field in Western Australia for $7.4 million from Origin Energy Ltd. and Pan Pacific Petroleum NL, both of Sydney.
BHP intends to use the field for underground storage and wants the field's pipeline for access to gas markets. Terms call for Origin to receive $4.2 million for its 57% interest and Pan Pacific to receive $3.2 million for its 43% interest.
The field, in Carnarvon basin, went on stream in 1991, feeding into the main Dampier-to-Bunbury gas trunkline. The field was shut in during the first half of 2004.
