Freehills have advised Woodside Energy (Woodside) in relation to its recent agreement to sell its interest in the Otway Gas Project in Victoria to Origin Energy Resources Ltd (Origin) for A$712.5 million.
The deal, which is subject to normal approvals and joint venture pre-emption processes, will see Origin acquire Woodside’s 51.55 per cent interest in the Otway Gas Project and assume operatorship.
The Freehills team, which was led by partner Rob Merrick with senior associate Sharon Wilson, worked closely with Tim Hicks and Vanessa Martin from Woodside’s legal department.
Freehills lead partner Rob Merrick said, ‘The transaction is consistent with Woodside’s previously announced strategy of divesting non-core assets and focussing on its LNG development opportunities. We are delighted to have worked alongside Woodside’s in-house legal team to help realise this strategy.’
The Freehills oil & gas team is consistently rated as one of Australia's leading practices measured against international benchmarks, and is top ranked in international benchmarking publications, Chambers Global Guide and Best Lawyers.
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