Overview

• ExxonMobil and Woodside confirmed they will remain equal 50:50 equity partners while Woodside takes over operatorship and decommissioning duties stay shared.
• More than 600 Esso Australia staff will transfer to Woodside when operatorship shifts at the start of next year.
• Woodside has identified four potential development wells that could deliver up to 200 petajoules of new gas—about 40 percent of the east-coast’s annual demand.
• The Australian Energy Market Operator and ACCC warn that households in Victoria, New South Wales and South Australia could face gas shortfalls within three years without fresh supplies.
• Rapid depletion of the ageing Gippsland Basin fields is intensifying pressure on officials to secure new domestic resources and consider options like a strategic gas reserve.