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Exxon and BHP to boost production at Australian offshore gas field
Exxon Mobil and $BHP Group Ltd (BHP.AU)$ have made a final investment decision to increase output from their Gippsland Basin Kipper field, offshore southeast Australia.
The project is expected to help address the gas shortage in the Australian domestic market.
The companies will invest approximately $291m (A$400m) to extract an additional 200 petajoules (PJ) of gas, over the next five years.
The Gippsland Basin Kipper field, which is operated by the Gippsland Basin Joint Venture (JV), is expected to produce approximately 30 petajoules in 2023.
Esso Australia, a subsidiary of ExxonMobil, operates the JV with a 50% stake while global miner BHP, through its unit BHP Petroleum (Bass Strait), owns the remaining stake.
The project is expected to help address the gas shortage in the Australian domestic market.
The companies will invest approximately $291m (A$400m) to extract an additional 200 petajoules (PJ) of gas, over the next five years.
The Gippsland Basin Kipper field, which is operated by the Gippsland Basin Joint Venture (JV), is expected to produce approximately 30 petajoules in 2023.
Esso Australia, a subsidiary of ExxonMobil, operates the JV with a 50% stake while global miner BHP, through its unit BHP Petroleum (Bass Strait), owns the remaining stake.
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