ExxonMobil (stock ticker: XOM) made a final investment decision to develop its West Barracouta gas field in Bass Strait. The project:

Brings new gas supplies to the Australian domestic market.
Is part of Exxon’s continuing investment in the Gippsland Basin. It’s located in the VIC/L1 block in offshore Victoria.

The Gippsland Basin Joint Venture continues to supply about 40 percent of east coast Australian domestic gas demand. Exxon recently completed front-end engineering design work for the project, which is part of the Esso-BHP Gippsland Basin Joint Venture.

It also awarded contracts to Subsea 7 and OneSubsea, a Schlumberger company. The project will be tied back to the existing Barracouta infrastructure offshore in Bass Str...

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