News
2 min read
• Nov. 25, 2020Gippsland gas powering Australian homes and businesses
After more than 50 years, the Esso-BHP Gippsland Joint Venture is still the largest supplier of gas to the eastern Australia market. Esso Australia (Esso) provides all of its Gippsland gas directly to Australian domestic market where it’s used in Australian homes and businesses and for electricity generation.
News
2 min read
• Nov. 25, 2020
“Currently, around 40% of all gas used in eastern Australia comes from the Gippsland Basin Joint Venture. And during winter, when the colder southern states rely on gas-powered heating to keep them warm and healthy, the Gippsland Basin supplies almost 80% of Victoria’s gas,” said ExxonMobil Australia Chairman, Nathan Fay.
“By ensuring that all of our Gippsland gas is sold for use right here in Australia, Esso is proud to be contributing to the social and economic well-being of our nation.”
In its 50 years of operation, the Gippsland-Basin joint venture has produced over half of Australia’s crude oil needs and supplied just under half of all of Eastern Australia’s natural gas supply. In doing so, it has contributed $570 billion to the Gross Domestic Product of Australia, equating to $11.6 billion a year.
“Since drilling the first Bass Strait well in 1965, our operations have delivered more than four billion barrels of oil and 10 trillion cubic feet of natural gas to Australia. That’s more than half of all the oil ever produced locally, and enough gas to power almost every home in Australia for a decade,” said ExxonMobil Australia Chairman, Nathan Fay.
Today, Esso continues to focus on delivering gas that Australians need to the domestic market.
“We continue to build on our long history of investment in the Gippsland Basin where, along with our joint venture partner BHP, we have been powering Australian homes and businesses and making a significant contribution to the Australian economy for more than five decades,” said Nathan.
“In 2017, more than $5.5 billion of investment in eastern Australia’s gas future was realised when the Kipper Tuna Turrum offshore project and associated Longford Gas Conditioning Plant came online. This multi-faceted project was the largest single investment ever into Australia’s domestic gas market,” said Nathan.
“Most recently, we’ve invested in developing two new West Barracouta gas wells in Bass Strait which will bring new gas supplies to the Australian domestic market next year.”
Esso continues to monitor the Australian energy landscape to identify any opportunities where we can maintain our role as an important contributor to Australia’s energy security into the future.
“With production from the Gippsland Basin’s legacy fields now in decline, more investment will be required to supply Australians with ongoing, reliable access to the affordable natural gas to which they’ve grown accustomed,” said Nathan.
“This investment depends on Australian governments and regulators continuing to deliver a supportive policy environment that incentivises businesses to develop Australia’s energy resources.”
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 and Esso Australia Resources Pty Ltd.
“By ensuring that all of our Gippsland gas is sold for use right here in Australia, Esso is proud to be contributing to the social and economic well-being of our nation.”
In its 50 years of operation, the Gippsland-Basin joint venture has produced over half of Australia’s crude oil needs and supplied just under half of all of Eastern Australia’s natural gas supply. In doing so, it has contributed $570 billion to the Gross Domestic Product of Australia, equating to $11.6 billion a year.
“Since drilling the first Bass Strait well in 1965, our operations have delivered more than four billion barrels of oil and 10 trillion cubic feet of natural gas to Australia. That’s more than half of all the oil ever produced locally, and enough gas to power almost every home in Australia for a decade,” said ExxonMobil Australia Chairman, Nathan Fay.
Today, Esso continues to focus on delivering gas that Australians need to the domestic market.
“We continue to build on our long history of investment in the Gippsland Basin where, along with our joint venture partner BHP, we have been powering Australian homes and businesses and making a significant contribution to the Australian economy for more than five decades,” said Nathan.
“In 2017, more than $5.5 billion of investment in eastern Australia’s gas future was realised when the Kipper Tuna Turrum offshore project and associated Longford Gas Conditioning Plant came online. This multi-faceted project was the largest single investment ever into Australia’s domestic gas market,” said Nathan.
“Most recently, we’ve invested in developing two new West Barracouta gas wells in Bass Strait which will bring new gas supplies to the Australian domestic market next year.”
Esso continues to monitor the Australian energy landscape to identify any opportunities where we can maintain our role as an important contributor to Australia’s energy security into the future.
“With production from the Gippsland Basin’s legacy fields now in decline, more investment will be required to supply Australians with ongoing, reliable access to the affordable natural gas to which they’ve grown accustomed,” said Nathan.
“This investment depends on Australian governments and regulators continuing to deliver a supportive policy environment that incentivises businesses to develop Australia’s energy resources.”
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 and Esso Australia Resources Pty Ltd.
