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Green light to develop Australia’s West Barracouta gas project
ExxonMobil has made a final investment decision (FID) to develop the West Barracouta gas field in the Bass Strait to bring new gas supplies to the Australian domestic market. The project, located in the VIC/L1 block offshore Victoria, is part of the company’s continuing investment in the Gippsland Basin.
Front-end engineering design work for the project, which is part of the Esso-BHP Gippsland Basin joint venture, recently completed and contracts were awarded to Subsea 7 and OneSubsea, a Schlumberger company. The project will be tied back to the existing Barracouta infrastructure located offshore in the Bass Strait. First gas is expected by 2021.
The Gippsland Basin joint venture currently supplies about 40% of east coast Australian domestic gas demand, from projects including the Kipper Tuna Turrum offshore development and the Longford gas conditioning plant.
According to Richard Owen, Chairman ExxonMobil Australia: ‘Since the first Bass Strait well was drilled in 1965, about 4bn barrels of crude oil and 8tn cf of natural gas have been produced.’
ExxonMobil subsidiary Esso Australia operates the Gippsland Basin joint venture on behalf of a 50:50 partnership with BHP Billiton Petroleum.
News Item details
Journal title: Petroleum Review
Countries: Australia -
Subjects: Banking, finance and investment, Exploration and production, Gas
