OREANDA-NEWS. State-controlled Hindustan Petroleum Corporation Limited (HPCL) on Wednesday announced that its upstream arm Prize Petroleum Company has entered into a sale purchase agreement with AWE, Australia to acquire 11.25 per cent interest in T/L1 license (includes Yolla producing field and BassGas infrastructure) and 9.75 per cent interest in T/18P permit (includes Trefoil development field) in Australia for a total consideration of AUD 85 Million. “The field is operated by Origin Energy and is held by a consortium in which Origin Energy, AWE and Toyota Tsusho are the major partners,” HPCL said in a filing to BSE. The fields are located in shallow water in Bass basin between mainland Australia and Tasmania offshore Victoria. In addition to the field, the acquisition will also entail a stake in offshore platform, gas processing plant and a 147 Km subsea pipeline. Production from Yolla mainly comprises of Gas, LPG and condensate.