ExxonMobil Australia, in partnership with Woodside Energy, announced the final investment decision (FID) for the Turrum gas project.
Joint investment (JV) aims to enter underdeveloped gas resources in the Gypsum Watershed with a $ 350 million investment ($ 221 million).
The project, which is expected to address the potential gas shortage on Australia’s east coast, includes drilling five new wells in the gas fields and northern Turums.
The decision comes at a critical time, as Australia’s competition regulator has warned of a lack of gas supply of 2027, which may require gas imports due to structural falls and uncertainties in future investments.
In E -s’ response to ReutersExxon Mobil President Australia Simon Jr.
The Gippsland JV basin is divided evenly between Esso Australia Resources and Woodside Energy (Bass Trest), with ESO Australia taking its leadership.
In a separate statement, Woodside’s executive vice president and chief operating officer for his Australian operations, Liz West, was quoted by the news agency: “The TURAM phase 3 project, and the recently approved Kipper 1B project, will unlock additional gas needed to avoid future shorts.
“Every Woodside gas reserve molecule from the bass strait fields is sold in the Australian domestic market for local manufacturers, generators of electricity and homes.”
Also, the companion of ExxonMobil ExxonMobil LNG Asia Pacific conclude a long -term sales and purchase agreement For the supply of liquid natural gas (LNG).
Under the deal, ExxonMobil will buy approximately 1.5 million tonnes per year from the ARC LNG of the Cedar LNG project.
“ExxonMobil Australia, Woodside approves $ 221 million for three -phase gas -gas” was originally created and published by Offshore technologybrand owned by Globaldata.
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