In this edition of Connection we focus on some of the significant investments we are making as many of our oil and gas producing assets in Bass Strait reach the end of their productive life and we plan for their eventual decommissioning.
ExxonMobil Australia is committed to decommissioning our Bass Strait offshore facilities at the right time and in the right way. In fact, we are already making significant investments to prepare for the eventual decommissioning of our own assets.
In a short video, our Decommissioning Assets Manager, Simon Kemp explains how we have completed a number of other investigations and preparatory works to better understand the marine environment around our platforms and pipelines, and ensure our infrastructure remains in a safe state.
Over the last few years, we have spent more than $300 million on successfully plugging and abandoning a number of wells which are no longer producing. Over the next two years, we will spend more than $150 million on further plug and abandonment work. You can learn more about the type of work involved in our plug and abandonment campaign in the update on our Mackerel platform.
Around the globe, our company has demonstrated we have the capability and financial backing to safely and effectively decommission offshore facilities and achieve positive outcomes. Similarly, we would hope all operators remain accountable as oil and gas facilities around the country reach the end of their productive life. Therefore, it was disappointing to see the Federal Government announce the introduction of an industry levy to pay for the decommissioning of the Laminaria-Corallina oil fields and associated infrastructure.
We hope you enjoy this edition of Connection and learning more about how we are working to achieve positive decommissioning outcomes for our Bass Strait facilities.