ExxonMobil Affiliate and Partners to Invest in Australian Gas Project

SEATTLE (Oil Monster): ExxonMobil subsidiary Esso Australia and its project partners Woodside Energy and Mitsui announced plans to spend heavily in an Australian gas project. It is anticipated that the $200 million planned investment in the project will assure more online gas supplies from the Gippsland Basin.

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A subsea well will be drilled and installed into the Lipper field as part of the Kipper 1B Project, which comes after the Kipper Compression Project and the West Barracouta project are finished. It also suggests major enhancements to the West Tuna platform. Later this year, platform modifications and drilling operations are scheduled to start. By the winter of 2026, the project will increase the Kipper field's capacity.

"The investment is part of projects executed by the company to ensure sustained gas production from its Gippsland operations into the 2030s," stated Simon Younger, Chairman of ExxonMobil Australia, in response to the development. In order to help the nation meet its energy security needs, projects like Kipper 1B are essential. He said that the increased supply will only be used in the local market.

Production at the Kipper gas field, which is situated in the Gippsland Basin 45 kilometers off the coast of Victoria, began in 2015.