AAP Finance

ExxonMobil’s Gippsland gas assets for sale

By AAP Newswire

Energy giant ExxonMobil has confirmed its Gippsland Basin gas assets are up for sale as part of a global divestment review.

The US conglomerate, which holds a 50 per cent stake in the Gippsland Basin Joint Venture through Esso Australia, told AAP it was "testing market interest" for its operated producing assets in Australia.

The Gippsland Basin assets, jointly owned with BHP Billiton, include 19 offshore oil and gas platforms, as well as the Longford gas plants complex and Long Island Point facilities in Victoria.

"No agreements have been reached and no buyer has been identified," Esso Australia said in a statement.

Esso said operations will continue as normal throughout the effort to sell the assets.

The Gippsland Basin Joint Venture supplies between 40 and 50 per cent of Australian east coast domestic gas demand.

ExxonMobil's US-based chief executive Darren Woods in March had flagged a potential $US15 billion ($A22 billion) worth of asset sales by 2025 as the company pursues divestments and refocuses its business.

ACM publication The Gippsland Times had earlier reported ExxonMobil's Australian head, Nathan Fay, delivered news of the sale to workers via Skype on Wednesday morning.