Cooper completes Orbost gas plant deal
Sydney-listed oil and gas producer Cooper Energy has completed the acquisition of the Orbost gas processing plant from energy infrastructure company APA, it said on July 28. The deal was announced in January this year.
APA will operate the plant on Cooper’s behalf under a transitional services agreement until the plant’s major hazard facilities license is transferred to Cooper. During this period there will be continuity of key people, systems and processes under Cooper’s integration plan.
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Completion of Cooper’s proposed acquisition of the vacant land immediately adjacent to the plant, comprising approximately A$2mn of the total purchase price, is anticipated to occur once the Australian competition watchdog has completed its assessment of the transaction.
The Orbost plant processes gas from Cooper’s Sole gas field offshore Victoria for supply to customers in southeast Australia.