Woodside to Acquire OCI’S Clean Ammonia Project

• World’s first ammonia plant paired with auto thermal reforming with 95%+ CO₂ capture
• Provides early-mover advantage in growing lower carbon ammonia market¹
• Exceeds capital allocation target of 10% internal rate of return²
• Free cash flow accretive from 2026 and earnings per share accretive from 2027
• Capacity to abate 3.2 Mtpa CO₂-e at full development; over 60% of Woodside’s Scope 3 abatement target³

HOUSTON--(BUSINESS WIRE)--Woodside has entered into a binding agreement to acquire 100% of OCI Clean Ammonia Holding B.V., and its lower carbon ammonia project in Beaumont, Texas (Project) for an all-cash consideration of approximately $2,350 million. The Project is under construction and targets production of first ammonia from 2025 and lower carbon ammonia from 2026. The consideration is inclusive of capital expenditure through completion of the first phase (Phase 1). 

Global ammonia demand is forecast to double by 2050, with lower carbon ammonia making up nearly two-thirds of total demand."

-Woodside CEO Meg O’Neill

 

Woodside CEO Meg O’Neill said the acquisition supports Woodside’s strategy to thrive through the energy transition....

Read the full news release here