Gippsland is a producing conventional oil field located in shallow water in Australia and is operated by Esso Australia Resources. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, 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. Buy the profile here.
Field participation details
The field is owned by Exxon Mobil and Woodside Energy Group.
Production from Gippsland
The Gippsland conventional oil field recovered 90.35% of its total recoverable reserves, with peak production in 1985. The peak production was approximately 488.18 thousand bpd of crude oil and condensate, 480.00 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 2048. The field currently accounts for approximately 5% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 659.03 Mmboe, comprised of 45.12 Mmbbl of crude oil & condensate, 2,932.42 bcf of natural gas reserves and 125.17 Mmbbl of natural gas liquid reserves. Gippsland conventional oil field reserves accounts 0.15% 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.
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