The Barracouta gas field in the Gippsland Basin has a renewed lease of life, no small feat for an offshore site that was first drilled more than 50 years ago.
The development of West Barracouta is welcome news for Australia’s east coast, which relies on the Gippsland Basin for around 40 percent of its domestic gas supply. With the West Barracouta field, the Esso-BHP Gippsland Basin Joint Venture will feed that part of Australia’s domestic gas market, with gas from this field anticipated from 2021.
Esso Australia in December 2018 announced that it had made a final investment decision to develop the West Barracouta gas field, a move that will continue the company’s presence in that area. Specifically, in recent years the Gippsland Basin Joint Venture has invested more than AUD $5.5 billion, which includes the Kipper Tuna Turrum offshore project and the Longford Gas Conditioning Plant.
With the latest investment, Esso Australia and its partner will continue to help meet Australia’s demand.
“We continue to use advanced technology, along with our extensive, decades-long understanding of the Gippsland Basin, to ensure full potential of the resource can be realised,” said Richard Owen, Chairman, ExxonMobil Australia.
With new gas supplies anticipated to flow into the region, West Barracouta will contribute an additional 5 to 10 percent of the overall domestic demand for the region in the coming years.