$1.4 billion acquisition: RISC provides due diligence support to JERA for Scarborough deal

JERA announced it had entered into a sale and purchase agreement with Woodside to acquire 15.1% of the Scarborough gas development project for an estimated total consideration of US$1,400 million.

RISC is delighted to have assisted the JERA team with technical acquisition due diligence support. Our multi-disciplinary experts used their extensive subsurface, project development and operations experience to provide detailed insight and guidance on the issues impacting this large and complex project.

Australia’s importance in providing gas as an essential transition fuel to the region cannot be understated. The UK recently announced it is the first major economy to halve its CO₂e emissions between 1990 and 2022 (whilst growing the economy by 79%).  The UK government attributed the reductions to the reduction in coal use for power generation from over 40% in 2012 to less than 2% in 2022. Australia and other regional economies could benefit from a similar strategy.

We look forward to continuing to work with all our clients as they investigate their available options.

Photo source: Woodside Energy