A Beach Energy spokesman said it had announced a pause on the Otway Carbon Capture and Storage project, which had been subject to early feasibility assessments.

"This may be looked at again in the future if the commerciality of the project improves," the spokesman said.

Beach Energy recently announced it would cut 30 per cent of its workforce as part of a "targeted headcount reduction".

But how many, if any, would come from its Port Campbell plant is yet to be announced.

"As Beach implements a new organisational structure, the reduction of staff numbers at specific sites is yet to be finalised," the spokesman said

"Importantly, the safe operation of our facilities will remain the priority."

The company is undertaking a strategic review of the business in a bid to drive efficiency and "earn the right to grow".

"To achieve efficiency and operational cost improvements, a targeted headcount reduction of 30 per cent will be delivered across the business," the company said.

Beach Energy managing director and CEO Brett Wood said the organisational structure would bring sharpened focus on core assets as it strived to become a dominant supplier of gas into Australia's East Coast and West Coast markets.

"It is imperative that Beach regains its status as a safe and efficient, low-cost operator by achieving structural reductions in operating costs and sustaining capital expenditure, including the announced reduction in headcount," Mr Wood said.

"Decisions about headcount reductions are not made lightly as we are highly cognisant of the personal impact organisational change can have on individuals and their families.

"To minimise the personal impact we are committed to implementing the new structure as soon as possible."