The joint venture of ExxonMobil and Woodside Energy is busy with several major investments on their giant Bass Strait asset in Australia where offshore field development, decommissioning and a carbon capture hub are being progressed in tandem.
In terms of field development, the current focus is on the Kipper phase 1B expansion, which involves the drilling of new production wells, additional subsea infrastructure and a new gas compression module.
The estimated capital cost of phase 1B is at least US$1 billion, according to portfolio guidance by the previous joint venture partner BHP.
