Australia-listed block owner Beach Energy said on Monday that following the receipt of government approvals including from the Foreign Investment Review Board, Chevron has officially gained a 30% interest in PEL 218 and an 18% stake in ATP 855.
Under the deal, which was signed in February, Chevron was required to pay US$36 million in cash plus carry Beach for up to US$95 million in project costs for the equity in PEL 218.
