The privately owned operator of the 50-year-old Golden Beach shallow-water gas project offshore south-east Australia is targeting the final investment decision within the next year.

Golden Beach is a small nearshore discovery in Block Vic/RL1 in the Gippsland basin just three kilometres off the Victoria coast.

The operator GB Energy has made a development plan that entails two development wells — drilled using a jack-up rig — subsea production equipment, a 3.8-kilometre