Exxon invests in another project to increase natural gas output in Australia

As reported by OilPrice.com, a joint venture of ExxonMobil and Woodside Energy will invest $222 million in the Turrum Phase 3 project to drill new wells and increase natural gas output in the Gippsland Basin in southeastern Australia.

According to Simon Younger, Chair of ExxonMobil Australia, Turrum Phase 3 will allow the company to produce gas in the Bass Strait past 2030.

Moreover, Exxon and Woodside recently approved Kipper 1B, another project to increase Australia’s domestic gas supply. It would involve drilling wells and installing additional infrastructure in the Kipper field, with major upgrades to the West Tuna platform, Younger says.

Boosting production is vital to ensure the country's energy security given growing demand and a possible gas shortages in the foreseeable future, OilPrice.com emphasizes.