THE Gippsland Basin Joint Venture's West Barracouta project has been commissioned, boosting the supply of gas to south-eastern Australia.
West Barracouta was one of the largest proven undeveloped gas fields off the south-eastern Australian coast.
Following a $400 million investment, it will now deliver much-needed gas supplies to help curb the potential gas shortfalls predicted for Australia's southern and eastern states as early as 2023.
ExxonMobil Australia chairman Nathan Fay said West Barracouta would likely be the largest domestic gas project for eastern Australia which came along this decade.
"(It is) building on our long and proud history of reliably supplying gas used in Australian homes and businesses for more than 50 years," he said.
"The Gippsland Basin remains today the largest single source of gas supply to the east coast domestic market.
"And West Barracouta demonstrates it still has the capacity to bring material new gas supply to the market - there is still plenty of potential left in the Bass Strait."
By the end of this decade, the Gippsland Basin will continue to have the potential to supply one third of south-east Australia's domestic gas demand.
"We have a long history of supplying reliable and affordable energy to Australia and have invested significantly in maintaining this supply
of energy that our customers, from heavy industries to families heating up their homes in winter, rely on," Mr Fay said.
Despite all the challenges associated with delivering a major offshore gas development, especially during COVID-19, he said Esso Australia was delivering gas from West Barracouta in time for winter this year, when many south-eastern Australians needed it most.
ExxonMobil subsidiary Esso Australia operates the Gippsland Basin Joint Venture on behalf of a 50-50 joint venture with BHP Petroleum and Esso Australia Resources.