BRIEF-Woodside Petroleum enters MoU with Leviathan JV participants

Feb 7 (Reuters) - Woodside Petroleum Ltd WPL.AX :

* Enters MoU with Leviathan JV participants

* Says MoU provides framework to negotiate in good faith, the acquisition of a 25 percent participating interest in each of the 349/rachel and 350/amit petroleum licences

* Says contemplates payment of $850 million upon completion of the transaction under a fully termed agreement

* Says contemplates payment of $350 million on a final investment decision for an LNG development

* Contemplates payment of 5.75 percent of co's well head export gas revenue

* Source text for Eikon News Search ID:nASXbMj0ZX

((For more news, please click here WPL.AX ))

((Bangalore Newsroom; +91 80 6749 1130))