West Barracouta was one of the largest proven undeveloped gas fields off the south-eastern Australian coast. Following a AUS$400 million investment it will now deliver gas supplies to help curb the potential gas shortfalls predicted for Australia’s southern and eastern states as early as 2023.
"West Barracouta will likely be the largest domestic gas project for eastern Australia that comes along this decade, building on our long and proud history of reliably supplying gas used in Australian homes and businesses for more than 50 years," said ExxonMobil Australia chairman Nathan Fay.
“The Gippsland Basin remains today the largest single source of gas supply to the east coast domestic market. And West Barracouta demonstrates it still has the capacity to bring material new gas supply to the market - there is still plenty of potential left in the Bass Strait.”
By the end of this decade the Gippsland Basin will continue to have the potential to supply one-third of south east Australia’s domestic gas demand.
“We have a long history of supplying reliable and affordable energy to Australia and have invested significantly in maintaining this supply of energy that our customers, from heavy industries to families heating up their homes in winter, rely on,” said Nathan.
ExxonMobil subsidiary Esso Australia Pty Ltd operates the Gippsland Basin Joint Venture on behalf of a 50-50 joint venture with BHP Petroleum (Bass Strait) Pty Ltd and Esso Australia Resources Pty Ltd.
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