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NORTH WEST SHELF SIGNS SALES AND PURCHASE AGREEMENT

28 November, 2007

Further to its news release on 22 February 2007, the North West Shelf LNG sellers confirm that following the signing of a binding Heads of Agreement earlier this year a Sales and Purchase Agreement (SPA) has now been executed with Kyushu Electric Power Company Incorporated for the supply of 0.73 million tonnes of LNG a year starting in April 2009 for eight years.

This agreement increases the North West Shelf LNG sales to Kyushu Electric to 1.23 million tonnes a year after 2010.

North West Shelf Australia LNG President Peter Cleary welcomed the completion of the SPA between Japan's fourth largest power utility Kyushu Electric and each North West Shelf seller.

"The North West Shelf sellers highly value their long-standing business relationship and friendship with its Japanese customers and we are delighted that Kyushu Electric which has been a major customer of ours since 1989 has chosen to continue this relationship through the additional purchase of LNG.

As previously stated we believe that this confirms growing market interest in the safe, secure and reliable supplies of LNG from the North West Shelf," Mr Cleary said

The six equal participants in the North West Shelf LNG Venture are: BHP Billiton Petroleum (North West Shelf) Pty Ltd; BP Developments Australia Pty Ltd; Chevron Australia Pty Ltd; Japan Australia LNG (MIMI) Pty Ltd; Shell Development (Australia) Proprietary Limited; and Woodside Energy Ltd (Operator).

CNOOC NWS Private Limited is also a member of the North West Shelf Venture but does not have an interest in North West Shelf Venture infrastructure.

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