Woodside Energy has assumed operatorship of the Gippsland Basin gas assets, including the Gippsland Basin Joint Venture (GBJV) and Kipper Unit Joint Venture (KUJV), from Esso Australia Resources.
The Gippsland Basin assets are a key source of gas for Australia’s east coast domestic market, and include the Gippsland Basin Joint Venture (GBJV) and the Kipper Unit Joint Venture (KUJV). Woodside and Esso Australia Resources each hold a 50% participating interest in the GBJV and 32.5% participating interest in the KUJV.
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Woodside CEO Liz Westcott said completion of the transition marked an important milestone for the company’s Australian operations.
“Today marks a new chapter for the Gippsland Basin joint ventures as Woodside assumes operatorship of these nationally significant energy assets which play a critical role in supplying gas to Australian homes and businesses,” Westcott said.
“As operator, Woodside’s focus is on maintaining safe, reliable operations and supporting continued energy security for the east coast.
“Our company was established more than 70 years ago and named after the small town of Woodside in Gippsland, where our founders first began exploring for oil. We are proud to be returning to Victoria as these assets’ operator and look forward to continuing to contribute to eastern Australia’s energy future.
”One hundred per cent of Woodside’s gas production from the Gippsland Basin is supplied to the domestic market.”
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As operator, Woodside will also continue to assess development opportunities within the Gippsland Basin Joint Venture, with identified prospects that have the potential to deliver up to 200PJ of additional gas supply to the east coast market, leveraging existing infrastructure.
