AFX Europe (Focus): Exxon Mobil-led jv to develop Australia’s Kipper offshore gas field
Jun 15, 2005
SYDNEY (AFX) – Esso Australia, a subsidiary of Exxon Mobil Corp, said the partners in the Kipper gas field in Australia’s Bass Strait have agreed to develop the project, with first gas expected to flow into southern Australian markets in 2009.
Esso is the project operator, with an 32.5 pct interest under a revised equity agreement. BHP Billiton also holds 32.5 pct, while Woodside Petroleum Ltd, which is about one-third owned by Shell, has 21 pct and Santos Ltd 14 pct.
Esso said the project partners have agreed on the key terms and conditions for processing gas from the Kipper field through Esso and BHP Billiton’s existing onshore infrastructure and processing facilities in the Gippsland district of the Australian state of Victoria.
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