Woodside takes reins of Australia's oldest gas producer
By assuming operating control from ExxonMobil, Woodside takes responsibility for the Bass Strait gas production assets, Victoria's Longford gas plant and the Long Island gas liquids processing facility and associated infrastructure.
The company's equity shares in Bass Strait remain unchanged, but Woodside said the change of operator would hasten the potential development of four new wells that could supply another 200 petajoules of gas to the east coast gas market.
Bass Strait has been an energy mainstay since oil and gas was first produced in the late 1960s.
Oil production was discontinued last year, but it still produces up to 700 terajoules a day, or 40 per cent of east coast gas demand, through the Longford and Long Island plants.
Woodside, which picked up the Bass Strait interests in its acquisition of BHP Petroleum in 2021, said the change 'creates flexibility' to solo develop opportunities that meet its investment targets.
BHP and ExxonMobil have equal shares in Bass Strait's Gippsland joint venture and respective 32.5 per cent and 67.5 per cent stakes in the Kipper gas project.
The companies still share responsibility for decommissioning the Bass Strait infrastructure.
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