ExxonMobil makes final investment decision to develop West Barracouta gas project
The project, located in the VIC/L1 block offshore Victoria, is part of the company’s continuing investment in the Gippsland Basin
The company recently completed front-end engineering design work for the project, which is part of the Esso-BHP Gippsland Basin Joint Venture, and awarded contracts to Subsea 7 and OneSubsea, a Schlumberger company.
The project will be tied back to the existing Barracouta infrastructure offshore in Bass Strait, the first offshore field ever discovered in Australia.
“We continue to use advanced technology, along with our extensive, decades-long understanding of the Gippsland Basin, to ensure full potential of the resource can be realised,” said Richard Owen, Chairman, ExxonMobil Australia.
“Our objective is to produce West Barracouta gas for the Australian domestic gas market by 2021.”
The Gippsland Basin Joint Venture continues to supply about 40 percent of east coast Australian domestic gas demand.
The new project builds on more than AUD $5.5 billion invested by the Gippsland Basin Joint Venture in other recent projects in Victoria to supply Australian domestic gas demand, including the Kipper Tuna Turrum offshore project and the Longford Gas Conditioning Plant.
“The Gippsland Basin Joint Venture has 50 years of experience in Bass Strait,” said Mr Owen.
“Since the first Bass Strait well was drilled in 1965, about four billion barrels of crude oil and eight trillion cubic feet of natural gas have been produced.”
ExxonMobil subsidiary Esso Australia Pty Ltd operates the Gippsland Basin Joint Venture on behalf of a 50-50 joint venture with BHP Billiton Petroleum (Bass Strait) Pty Ltd.
About ExxonMobil in Australia
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. We hold an industry-leading inventory of resources and are one of the world’s largest integrated refiners, marketers of petroleum products and chemical manufacturers. The ExxonMobil Australia group has been operating in Australia since 1895.
Travis Parnaby, + 61 03 9261 0291, +61 0467 794 893