Santos (ASX:STO), Beach Energy and Key Petroleum have entered into a Non-binding MoU to cover proposed terms for gas processing into the Cooper Basin gas gathering network.
The agreement also covers processing at the Santos-operated Moomba Gas Processing Facility.
The three companies have agreed non-binding indicative terms for gas processing and transportation services.
Key Petroleum says it's delighted to be working with Santos and Beach Energy and the MoU demonstrates a clear pathway to commercialisation of future gas discoveries within our Tanbar Gas Project.
Shares in Santos (ASX:STO) closed 1.14 per cent lower to $6.95 on Friday.