Natural Gas World
  • Natural Gas News

    Exxon Buys Stake in Australia CSG JV

    old

Summary

Esso Ventures Pty Ltd (ExxonMobil), an affiliate of ExxonMobil Australia is acquiring a 10% stake in a joint venture to explore for coal seam gas in Australia.

by: Shardul

Posted in:

Asia/Oceania

Print This Article

Exxon Buys Stake in Australia CSG JV

Esso Ventures Pty Ltd (ExxonMobil), an affiliate of ExxonMobil Australia is acquiring a 10% stake in a joint venture to explore for coal seam gas in Australia. This is company’s maiden investment in Australia’s coal seam gas sector.

The US energy firm is teaming up with Ignite Energy Resources Ltd. to explore and develop reserves of methane gas occurring naturally in the Gippsland Basin, Victoria.

Over the next 12-18 months ExxonMobil and IER will work together to evaluate and assess the natural gas potential in the deeper coal seams of the licence and determine whether it can be commercially produced.

Related Articles