Woodside Takes Over as Operator of Gippsland Basin Gas Ventures

Woodside Energy Group Ltd now runs the Gippsland Basin Joint Venture (GBJV) and Kipper Unit Joint Venture (KUJV), Rigzone reported, after Exxon Mobil Corp finished handing over operatorship of the two assets.

The GBJV covers roughly 40 percent of gas demand along Australia's east coast, according to Rigzone, and the two partners still each hold 50 percent of that venture and 32.5 percent of the KUJV. Japan's Mitsui & Co Ltd owns the balance of 35 percent in the KUJV.

Staffing across the Gippsland Basin runs to 1,200 people who support offshore and onshore sites, Offshore Magazine reported, among them the Longford Gas Plant and the Long Island Point processing facility.

Woodside has flagged prospects within the GBJV acreage that it says could deliver as much as 200 petajoules of additional gas to the east coast market using existing infrastructure, per Rigzone. The partners committed last year to nearly USD 200 million for a new Kipper field well aimed at lifting output before winter 2026, Rigzone reported.

Separately, Woodside expects its 2024 asset swap with Chevron Corp, covering the North West Shelf and Wheatstone liquefied natural gas projects, to close in the second half of 2026, according to Rigzone.