Saturday, July 26, 2008
ExxonMobil announces $1.1 billion Turrum Field development
Email
|
Print
|
Tell us your story
|
Comment
|
Photo not provided by ExxonMobil, Australia
The previously-untapped oil source should give Australia a leg up on those Saudis
IRVING Exxon Mobil Corporation announced today the Gippsland Basin Joint Venture, which includes its subsidiary, Esso Australia, will invest $1.1 billion to develop more than 270 million oil-equivalent barrels from the Turrum field in the Bass Strait, offshore southeast Australia.
The development follows the recent announcement of $1 billion in funding to develop natural gas from the Kipper field, also in the Bass Strait.
“ExxonMobil continues to be an industry leader in bringing new energy supplies to the market and the Turrum Field development is the latest example,” said Rich Kruger, president of ExxonMobil Production Company. “Bass Strait has a long history and a bright future,” Kruger said. “There are significant oil and gas resources remaining to be produced in the basin.”
The Turrum field holds approximately one trillion cubic feet of gas and 110 million barrels of oil and natural gas liquids. The development concept for the project is based upon the construction of a new platform bridge-linked to the existing Marlin A platform in Bass Strait. The platform will process additional oil production and gas cycling which will be piped back to existing processing facilities at Longford. Construction is anticipated to begin in 2009. Oil production is expected in 2011, and first gas sales are estimated to take place in 2015.
Source: ExxonMobil
Related stories
- Pegasus News Week in View: The Hits Keep Coming (July 31, 2008)
See more stories in:
Find...
Today
The Trains at NorthPark Oh, no! Godzilla got into the Northpark train exhibit! But don't worry, the engineers will have it back up and running in time for your mall visit. And now, BEFORE the big holiday rush, is the best time to see them, before hundreds of drooling children take over the enclosure after Thanksgiving. More info
Blogs
- Merry KKKhristmas
Square Pegs - The Ethicist visits the Barnett Shale
Square Pegs - A holiday gift for your election-enthused loved ones
Square Pegs
Latest comments
- Jason Rice on African American Legal Association responds to Hispanic community leader's racial comments: ch0 it was a tough room and you had a hard warmup act. The “Valhalla” line woulda worked on a two be...
- RussJFK on African American Legal Association responds to Hispanic community leader's racial comments: CHO—Me too man, I got too excited, angry. Gosh this blogging, commenting gets to be “too much” some...
- ch0 on African American Legal Association responds to Hispanic community leader's racial comments: Twas merely an apparently misguided attempt at “the humor”, Mr. Russ. I offer no real explanation fo...
- American_Patriot on African American Legal Association responds to Hispanic community leader's racial comments: RUUSJFK, he didn’t plan to die, but expected to die. You need to read the books written on him. He K...
Latest reviews
- SportingNewsGrill on Sporting News Grill (Arlington): great food good service. Drink specials Great!!...
- djyosh on ROCC: I was there this past Friday for a late happy hour, it was great. They had a jazz band that provided...
- Joel Woiton on Twisted Root Burger Company: I visited this place this past weekend. I had the mushroom swiss burger and it was pretty good. My o...

Post a comment
(Requires free PegasusNews.com account.)