Beach bags offshore interests

The Yolla platform.

The Yolla platform.

Beach Energy has entered into binding agreements with Toyota Tsusho to acquire its interests in the Otway Gas Project and the BassGas Project, both located off the coast of Victoria.

Beach will acquire Toyota’s 5 per cent stake in the Otway Gas Project (OGP) and 11.25 per cent stake in the BassGas Project for cash consideration.

The purchase price remains confidential, with the transaction subject to standard conditions precedent, including relevant third parties’ consent.

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