Esso Australia to Expand Gas Development in the Gippsland Basin

MELBOURNE, Australia – 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 to help secure much needed supply for the Australian domestic market. 

News

Esso Australia to Expand Gas Development in the Gippsland Basin
  • Progressing additional gas development from the Kipper field; advancing funding decision for the Turrum field 
  • Estimated AUD $400 million investment to deliver an additional 200 petajoules of gas between 2023 and 2027
Esso Australia is investing to develop much needed gas supply for the Australian domestic market. 

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

These estimated AUD $400 million investments could deliver an additional 200 petajoules of gas over the next five 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 Esso continues to invest to deliver reliable and affordable Gippsland gas to Australian homes and businesses, supporting local jobs and the Australian economy. 

“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,” said Pugh. 

“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.”

In early 2021, Esso Australia commissioned the West Barracouta project in the Gippsland Basin, one of the largest domestic gas projects this decade.

Gippsland gas is powering Australian jobs, providing the energy used by local manufacturers, hospitality venues, medical facilities and construction firms, and supporting the countless people and industries who rely on their products and services.

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About ExxonMobil in Australia
ExxonMobil Australia’s reliable supply of natural gas and transportation fuels is powering Australian jobs, providing the energy used by local manufacturers, hospitality venues, medical facilities and construction, transport and logistics firms, and supporting the countless industries who rely on their products and services. The ExxonMobil Australia group has been operating in Australia since 1895. Learn more about us at www.exxonmobil.com.au. Follow us on Twitter and Instagram: @exxonmobil_aus. 

About the Gippsland Basin Joint Venture
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.