Esso Australia to expand gas development in Gippsland basin
Esso Australia, a subsidiary of ExxonMobil, has made a final investment decision to develop additional gas from the Gippsland Basin Kipper field, it said on March 17. The company is also advancing funding decisions to optimise production from the Turrum field.
“These estimated A$400mn ($292mn) investments could deliver an additional 200 petajoules of gas over the next five years,” Esso Australia said. “About 30 petajoules will come online in 2023, and provide critical gas supplies to help avert winter supply risks forecast for Australia’s southern states in the Australian Energy Market Operator’s 2021 Gas Statement of Opportunities.”
ExxonMobil Australia chair, Dylan Pugh, said the 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.
“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,” Pugh added.
In early 2021, Esso Australia commissioned the West Barracouta project in the Gippsland basin, one of the largest domestic gas projects this decade.
Australia’s peak oil and gas body Appea said more gas supply in Victoria was welcome given the state had the highest domestic use and was also home to a growing manufacturing base.
“This is a $400mn vote of confidence in the future of natural gas that will develop more supply, more security and more jobs,” Appea CEO Andrew McConville said.
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