Santos has completed the sale of its Victoria, offshore Australia, assets to Cooper Energy.
The deal includes a string of fields in the Gippsland Basin, south of Orbost, as well as the onshore Orbost gas plant, plus Otway Basin field interests.
The Otway Basin interests include 50% in the producing Casino-Henry gas project, 50% in the Sole gas project, taking Cooper's interest to 100%,
A 10% stake in the Minerva gas plant and 10% in block VIC/L22, containing the Minerva field, is awaiting completion.
The Minerva gas field is expected to cease operation in 2017 year and production from Minerva is expected to contribute 0.1 million boe of the 1.6 million boe production forecast for the company in the current calendar year.
The process for the transfer of operatorship of Casino-Henry (VIC/L24 and VIC/L30); VIC/RL11; VIC/RL12; VIC P/44; the Sole Gas Project (VIC/RL3); and Patricia-Baleen (VIC/L21) to Cooper Energy has started and is expected to be completed by mid-2017.