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Otto to increase Philippines stake after BHP exit

Australia-listed Otto Energy has signed a letter of intent proposing to transfer over BHP Billiton’s 60% stake in an offshore Philippines permit after it pulled out of a farm-out deal earlier this month.

The Philippines: Otto Energy is hoping to take back BHP Billiton's 60% stake in SC 55 after the latter pulled out of a farm-out deal this month
The Philippines: Otto Energy is hoping to take back BHP Billiton's 60% stake in SC 55 after the latter pulled out of a farm-out deal this month
Published 28 November 2013, 08:54Updated 11 October 2016, 13:18