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November 25, 2021updated 26 Nov 2021 6:03am

Gippsland Conventional Oil Field, Australia

By Carmen

Gippsland is a producing conventional oil field located in shallow water in Australia and is operated by Esso Australia Resources. The field is located in block VIC/L25, VIC/L13, VIC/L4, VIC/L5, VIC/L14, VIC/L3, VIC/L7, VIC/L10, VIC/L9, VIC/L20, VIC/L8, VIC/L11, VIC/L19, VIC/L17, VIC/L15, VIC/L1, VIC/L18, VIC/L16, and VIC/L2, with water depth of 295 feet.

Field participation details

The field is owned by BHP and Exxon Mobil.


Production from Gippsland

The Gippsland conventional oil field recovered 94.75% of its total recoverable reserves, with peak production in 1985. The peak production was approximately 488.18 thousand bpd of crude oil and condensate, 480 Mmcfd of natural gas and 53.56 thousand bpd of natural gas liquids. Based on economic assumptions, production will continue until the field reaches its economic limit in 2036. The field currently accounts for approximately 5% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 335.16 Mmboe, comprised of 47.94 Mmbbl of crude oil & condensate, 1,198.44 bcf of natural gas reserves and 87.48 Mmbbl of natural gas liquid reserves. Gippsland conventional oil field reserves accounts 0.07% of total remaining reserves of producing conventional oil fields globally.


About Esso Australia Resources

Esso Australia Resources Pty Ltd (Esso Australia) is an oil and gas exploration company. The company provides oil and gas exploration, development, and production services. It operates in the exploration and production of oil and gas, petroleum refining and supply of fuels including natural gas. It also develops projects such as the Kipper, Tuna and Turrum oil and gas reservoirs. The company has oil and gas exploration operations throughout the country. The company operates as a subsidiary of Exxonmobil Australia Pty Ltd. Esso Australia is headquartered in Melbourne, Australia.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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