- The VALARIS 107 to drill new well in the Kipper field
   - West Tuna platform to be significantly upgraded

Esso Australia Resources Pty Ltd (‘Esso Australia’, a subsidiary of ExxonMobil Australia Pty Ltd) has announced a nearly $200 million dollar investment in the Kipper 1B Project which will bring online much-needed additional gas supply from the Gippsland Basin.

The project, which was approved by Esso Australia, and its co-venturers, MEPAU A Pty Ltd (‘Mitsui’), and Woodside Energy (Bass Strait) Pty Ltd (‘Woodside’), will utilise the VALARIS 107 jack-up rig to drill and install one subsea well into the Kipper field, and involve significant upgrades to the West Tuna platform.

Kipper 1B follows the successful completion of the recent Kipper Compression Project, and the West Barracouta project that came online in 2021.

“Esso Australia continues to invest in multiple projects that ensure our Gippsland operations sustain gas production well into the 2030s,” says ExxonMobil Australia Chair Simon Younger.

“Projects like Kipper 1B are vital to help meet the country’s energy security needs by bringing new supply online, which will be used exclusively for Australia’s domestic market.

"Natural gas is a safety net of our energy system, ensuring reliable, affordable power for homes and businesses while providing the stability needed to transition to a lower carbon future."

Drilling into the Kipper field is set to begin later this year, with upgrades to the West Tuna platform happening simultaneously. The project is expected to expand capacity from the Kipper field, delivering crucial gas supplies to the market ahead of winter 2026.

Esso operates assets in Bass Strait that form part of the Gippsland Basin Joint Venture between Esso and Woodside) and the Kipper Unit Joint Venture (Esso, Woodside, and Mitsui).

About ExxonMobil in Australia

ExxonMobil Australia’s reliable supply of natural gas and transportation fuels is powering Australian jobs, providing the energy used by local manufacturers, hospitality venues, medical facilities and construction, transport and logistics firms, and supporting the countless industries who rely on their products and services. The ExxonMobil Australia group has been operating in Australia since 1895.

About Mitsui

Mitsui & Co., Ltd. is a global trading and investment company with a diversified business portfolio that spans approximately 63 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries. Leveraging its strengths, Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative Energy Solutions, Healthcare & Nutrition and through a strategic focus on high-growth Asian markets. This strategy aims to derive growth opportunities by harnessing some of the world's main mega-trends: sustainability, health & wellness, digitalization, and the growing power of the consumer.

About Woodside Energy

Woodside Energy is a global energy company, founded in Australia with a spirit of innovation and determination. We provide energy the world needs to heat and cool homes, keep lights on and enable industry.
For 40 years, the North West Shelf has been delivering natural gas to customers in Australia and around the world.