The agreement, however, is subject to finalisation from the gas field development project’s contractor Clough, which was placed into administration late last year.
Beach Energy and its JV partner Mitsui E&P Australia plan to start production from the onshore gas field development project by the end of 2023.
The deal follows the acquisition of Clough by the Italian construction firm last week.
In a press statement, Beach Energy said: “Webuild’s acquisition of Clough and its personnel, systems, and processes will enable project execution to continue uninterrupted.”
The Waitsia Stage 2 project involves the development of a new 250TJ per day gas processing plant to maximise the potential of the Waitsia gas field.
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The proposed processing plant will draw from up to eight production wells, phased over a 15-year life-cycle.
The gas will be delivered to the Bunbury natural gas pipeline via the nearby Dampier.
Beach Energy CEO Morné Engelbrecht said: “This marks an important step towards completion of the Waitsia Stage 2 project and is a key milestone in providing renewed momentum, stability, and continuity to the project.
“The dedication and commitment of the project team has been second to none and will ensure the Waitsia Gas Plant becomes an important piece of energy infrastructure for Western Australia for many years to come.”