find the latest legal job
Monash University Director Workplace Relations
Category: Industrial Relations and Employment Law | Location: All Melbourne VIC
· Exceptional senior leadership role
View details
Personal Injury Lawyer - Melbourne Eastern Suburbs - 2-5 years PAE
Category: Personal Injury Law | Location: Lilydale VIC 3140
· Fulfilling role as part of a small team in a positive workplace
View details
Legal Counsel
Category: Banking and Finance Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· In-house opportunity · Be part of our engine for success in a high growth business
View details
Trainer/Assessor Diploma of Legal Services
Category: Other | Location: Liverpool NSW 2170
· 3 Days Per Week · 9am - 4pm
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Adelaide CBD · Join a leading Adelaide commercial law firm
View details
Woodside sale of Otway Gas interest to Origin

Woodside sale of Otway Gas interest to Origin

Clayton Utz and Freehills have played key roles in the recent agreement for Woodside Energy to sell its interest in the Otway Gas Project in Victoria to Origin Energy Resources - a wholly owned…

Clayton Utz and Freehills have played key roles in the recent agreement for Woodside Energy to sell its interest in the Otway Gas Project in Victoria to Origin Energy Resources - a wholly owned subsidiary of Origin Energy.

The deal, worth $712.5 million, will see Origin acquire Woodside's 51.55 per cent stake in the Otway Gas Project and assume operatorship.

A team from Clayton Utz, led by partners Graham Taylor and Emma Covacevich and supported by partner Andrew Smith and lawyers Sammy Mansour and Andrew Lassman, advised Origin on the transaction. Meanwhile, a Freehills team, lead by partner Rob Merrick and senior associate Sharon Wilson, advised Woodside, working with Tim Hicks and Vanessa Martin from Woodside's in-house legal team.

It's a strategically significant for Origin, which will receive additional earnings from natural gas sold under existing long-term contracts to TRUenergy as well as from LPG and condensate sold from the liquids-rich gas stream. As the operator of both the Otway Gas Project and the BassGas Project, it will look to create a number of benefits by addition scale and capacity to these operations.

For Woodside, the transaction is another step in its strategy to streamline its operations. Freehills' Merrick explained: "The transaction is consistent with Woodside's previously announced strategy of divesting non-core assets and focussing on its LNG development opportunities," he said.

Promoted content
Recommended by Spike Native Network