ExxonMobil steps up Gippsland basin gas investments

Offshore staff

MELBOURNE, Australia – Esso Australia has taken FID on further development of the Kipper field in the Gippsland basin offshore southeast Australia to increase gas supplies to the local domestic market.

The company also plans to advance a funding decision for the Turrum field. 

It estimates an overall cost of AUD$400 million ($296 million) to deliver an additional 200 petajoules of gas between 2023 and 2027

ExxonMobil Australia Chair, Dylan Pugh, said: “Our ongoing investment and commitment to supplying Australian customers means that the Gippsland basin remains the largest single source of natural gas for Australia’s east coast.”

He added: “There is still plenty of gas remaining in Bass Strait and we are working hard to unlock its full value. More investment will be required for Victoria to maintain its reliable supply of natural gas, especially during winter.”

Early last year, Esso Australia commissioned the West Barracouta gas project in the Gippsland basin.

3/18/2022