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.