Esso Australia, an ExxonMobil subsidiary, has announced a final investment decision (FID) to produce additional gas from the Kipper field in the offshore part of the Gippsland Basin in Australia with an estimated investment of US$291m.
The latest gas development project at the Kipper field is aimed at securing an extra 200 petajoules (PJ) of gas for the Australian domestic market between 2023 and 2027, according to ExxonMobil. Almost 30PJ of that is expected to be brought into production in 2023.
The volume will deliver crucial gas supplies to assist Australian southern states in avoiding winter supply risks that were forecast in the Australian Energy Market Operator’s 2021 Gas Statement of Opportunities.
Esso Australia is the operator of the 50:50 Gippsland Basin joint venture between Esso Australia Resources and BHP Billiton Petroleum (Bas Strait). The company is also taking forward funding decisions to streamline production from the Turrum field, another producing asset of the Gippsland Basin JV.
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