BP to sell five percent Browse Project stake to Osaka Gas

BP has agreed to sell a five percent stake in Australia’s Browse Project to Japan’s Osaka Gas Co Ltd. The transaction involves the Brecknock, Calliance, and Torosa gas fields located offshore in the Browse Basin.

This marks the second divestment from the project in 2026, following a five percent stake transfer to South Korea’s GS Energy Corp in June. BP stated the move is part of a “disciplined approach to portfolio management” intended to bring in committed partners who are also major East Asian LNG buyers.

The deal remains pending subject to regulatory approvals and consent from co-venturers in the Browse Joint Venture. The project is currently moving toward the front-end engineering and design (FEED) milestone while pursuing environmental approvals.