Woodside Energy completes OCI Clean Ammonia acquisition

Woodside (WDS) has completed the acquisition of 100% of OCI Clean Ammonia Holding B.V., which holds its lower carbon ammonia project in Texas, from OCI (OCINF). The completion follows Woodside’s announcement on 5 August 2024 that it had entered into an agreement to acquire OCI’s 1.1 Mtpa Clean Ammonia Project. Following start up of carbon capture and sequestration, the Project will generate ammonia with less than 35% the lifecycle emissions intensity of unabated ammonia. The Project remains under construction and is targeting production of first ammonia from 2025 and lower carbon ammonia from 2026.5 OCI will manage the construction of the Project through provisional acceptance. The all-cash consideration of approximately $2,350 million is inclusive of capital expenditure through completion of the first phase, with 80% paid and the remaining 20% to be paid at Project completion.