Woodside Energy now operates key east coast gas assets supplying 40% of Australia’s domestic demand while retaining existing ownership stakes.
Woodside Energy has assumed operatorship of the Gippsland Basin assets in southeastern Australia from Esso Australia Resources. The transition includes the Gippsland Basin Joint Venture and Kipper Unit Joint Venture but does not alter ownership stakes, with both companies retaining their 50% and 32.5% interests, respectively.
The Gippsland Basin supplies approximately 40% of the gas demand on Australia’s east coast, a critical energy source for decades. All gas produced from these assets is directed to the domestic market, supporting homes and businesses. The assets encompass onshore and offshore facilities, employing around 1,200 personnel.
Woodside CEO Liz Westcott stated the company will prioritize safe and reliable operations to ensure continued energy security for the region. The move marks a return to the basin where Woodside’s founders first explored for oil over 70 years ago.