ExxonMobil to exit Bass Strait gas and oilfields

Original article by Perry Williams
The Australian – Page: 17 : 19-Sep-19

Oil major ExxonMobil is to put its 50 per cent stake in the Gippsland Basin Joint Venture on the market. ExxonMobil holds its 50 per cent interest in the GBJV through Esso, with BHP owning the other 50 per cent. It has been suggested that ExxonMobil could secure up to US2.5 billion ($3.65 billion) for its share of the GBJV, which houses offshore oil and gas assets in Bass Strait and the Longford and Long Island Point plants in Victoria. There is speculation that BHP might seek to put its share of the GBJV up for sale as well as a result of ExxonMobil’s announcement.

CORPORATES
EXXONMOBIL CORPORATION, ESSO AUSTRALIA PTY LTD, BHP GROUP LIMITED – ASX BHP

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