The company will assign its 35% non‐operated to Cooper.
Beach did not wish to participate in a proposed appraisal of the Manta gas field, preferring instead to optimize its portfolio in the current lower oil price environment.
Subject to approval from Australia’s National Offshore Petroleum Titles Administrator, the withdrawal will take effect from Oct. 27.
The VIC/L 26, 27, and 28 permits are in the offshore Gippsland basin.
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