ExxonMobil believes its latest field development will likely be the largest domestic gas project for eastern Australia this decade after the $400 million West Barracouta project started up in the Gippsland basin.
West Barracouta was one of the largest proven undeveloped gas fields off the south-eastern Australian coast that will now deliver much-needed gas supplies to help curb potential gas shortfalls predicted for Australia’s southern and eastern states as early as 2023, the US supermajor said in a statement today.
ExxonMobil, which operates the field on behalf of 50:50 joint venture partner BHP Petroleum, said “the Gippsland basin remains today the largest single source of gas supply to the east coast domestic market. And West Barracouta demonstrates it still has the capacity to bring material new gas supply to the market – there is still plenty of potential left in the Bass Strait.”
By the end of this decade the Gippsland basin will continue to have the potential to supply one third of south east Australia’s domestic gas demand, added ExxonMobil.