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ExxonMobil, BHP to spend $290 mln to replace Australian pipeline

Published 28/08/2015, 10:42 am
© Reuters. ExxonMobil, BHP to spend $290 mln to replace Australian pipeline
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MELBOURNE, Aug 28 (Reuters) - ExxonMobil Corp XOM.N and BHP Billiton BHP.AX have agreed to spend about A$400 million ($290 million) to replace a pipeline that transports crude oil and condensate between two of their sites in Australia's Victoria state, ExxonMobil said on Friday.

The project comes at a time when Australia is counting on infrastructure investment to help offset a bust in mining and energy projects.

ExxonMobil and BHP Billiton BLT.L , 50-50 joint venture partners in the Gippsland Basin, will be replacing a 187 km (116 mile) pipeline, with construction expected to generate around 500 jobs at its peak.

Construction is expected to begin in late 2015, pending regulatory approval.

($1 = 1.3930 Australian dollars)

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