Woodside Energy has assumed operation of assets in the Bass Strait following a historic agreement with ExxonMobil Australia, unlocking potential development of additional gas resources.
From completion, Woodside will assume operation of the offshore Bass Strait production assets, the Longford Gas Plant, the Long Island Point gas liquids processing facility and associated pipelines.
As operator, Woodside will take on the responsibility for asset planning and execution activities, pursuing a value maximisation strategy that targets further production and reliability improvements. This move combines Woodside’s existing global operations with ExxonMobil’s experience workforce in the Bass Strait who will transfer to the operator.
The agreement also created flexibility to realise future development opportunities that meet Woodside’s capital allocation framework. The operator has identified four potential development wells that could deliver up to 200 petajoules of sales gas to the market. Under the agreement, Woodside can solely develop these opportunities through the Bass Strait infrastructure subject to the further technical maturation and a final investment decision.
Woodside EVP and COO Australia, Liz Westcott, said, “As a proudly Australian company, Woodside support essential domestic energy needs in both Western Australia through the North West Shelf, Pluto and Macedon operations, and on the east coast through its equity participation in Bass Strait.
“Taking operatorship of Bass Strait demonstrates Woodside’s continued commitment to meeting Australia’s domestic energy demand while maximising the value of existing infrastructure.”
