The Lang Lang gas processing plant in Victoria. (Origin)
Singapore-based OG Oil & Gas (OGOG) has farmed into Australia’s Otway Basin, becoming the latest international investor to enter the area in a bid to take advantage of eastern Australia’s tightening gas market.
The deal, announced by Beach Energy during an investor day last week, will see privately owned OGOG farm into 40% of Beach’s assets in the Otway for A$344 million ($243 million) in cash. The deal is expected to help mid-cap Beach fast-track its supply of gas to Australia’s east coast, allowing it gain...
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