AWE announces Minerva gas plant deal

Company News

by Anna Napoli

AWE (ASX:AWE) together with Mitsui E&P Australia and Cooper Energy (ASX:COE) have inked a deal with BHP.

The three companies will buy BHP’s 90 per cent interest in the Minerva Gas Plant, onshore Otway Basin in Victoria.

The deal gives Cooper Energy a 50 per cent interest in the plant with AWE and Mistui each holding 25 per cent.

The Minerva gas plant is one of 3 gas processing plants located onshore Victoria that are currently processing gas from the offshore Otway Basin.

Shares in AWE (ASX:AWE) are trading 0.53 per cent lower to $0.95.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.