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Esso Australia to increase gas production from Gippsland Basin

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Oilfield Technology,

Esso Australia Pty Ltd, a subsidiary of ExxonMobil and operator of the Gippsland Basin joint venture, has made a final investment decision to develop additional gas from the Gippsland Basin Kipper field.

Esso Australia is also advancing funding decisions to optimise production from the Turrum field.

These estimated AUS$400 million investments could deliver an additional 200 petajoules of gas over the next 5 years. 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:  “Natural gas has an increasingly important role in meeting demand for cleaner fuel, lowering GHG emissions in the power sector and supporting higher penetration of renewables by maintaining reliability, resilience and stability of the grid.”

“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.

“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.”

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