BHP Billiton unloads Pakistan gas assets

Submitted by Paddy Harris on Mon, 2015-02-16 17:04

16th February 2015

Mining giant, BHP Billiton, has sold its Pakistan natural gas arm as it seeks to streamline its hydrocarbon arm

BHP currently operates the Zamzama gas field and its associated plants

BHP has sold its Pakistan gas business to a subsidiary of Pakistan’s domestic Hashoo Group, according to reports today.

"The transaction is subject to regulatory approval and is expected to close in the fourth quarter of 2015," BHP said to Reuters news agency in an emailed statement.

BHP operates the Zamzama gas field but has been looking to sell its 38.5 per cent stake in a general policy to simplify its petroleum business to focus on key producing areas such as the US, Caribbean and Australasia.