The largest proven yet undeveloped gas field off the coast of south-eastern Australia received a $400 million investment1 and will now curb the potential gas shortage that had been projected for the eastern states as early as two years from now.
Esso Australia, a subsidiary of ExxonMobil Australia has a long and proud history of distributing gas supply to homes and businesses for more than 50 years. The Gippsland Basin remains the largest single source of gas supply and West Barracouta has the ability to bring material new gas, demonstrating the potential supply left in the Bass Strait. It is predicted that by the end of the decade, the Gippsland Basin will supply one third of south east Australia’s domestic gas supply2.
Through the West Barracouta project, ExxonMobil demonstrates how to make the most of existing assets. The shift from an oil- and gas-producing business to one that is gas-focused reveals the enterprise’s capability to build value from their assets. West Barracouta, as the first producing field in the strait, is now tapping into new ways to build a value chain in an efficient and effective way through its supply of affordable and reliable energy to Australians3.
Connect with our Power in Asset Management Special Interest Group for events and webinars that are targeted towards the energy industry. Our Special Interest Group is a great way to share knowledge with a focus on asset management building value for the enterprise, as well as provide significant networking opportunities.
2 Sourced: as above
3 Sourced: video link as above