It was reported in the media in mid-September 2019 that ExxonMobil, through subsidiary company Esso Australia, was potentially looking to divest its developed assets in Victoria, which all lie offshore in the Gippsland Basin.Â  It was reported that ExxonMobil is strategizing and that the assets were some of several, globally, that ExxonMobil may look to sell.  ExxonMobil holds 50% in a number of licences in the Gippsland Basin, and it is thought it is looking to divest the interest in these producing assets.Â  BHP Billiton is the holder of the other 50%. The production licences in which ExxonMobil are thought to be selling interest are VIC/L01 to VIC/L11, VIC/L13 to VIC/L20. It is also thought to potentially include retention leases VIC/RL1 and VIC/RL4.  ExxonMobil is thought to have attempted sale previously, looking for potential interested buyers for the producing Gippsland assets in the past.
It was reported in the media in mid-September 2019 that ExxonMobil, through subsidiary company Esso Australia, was potentially looking to divest its developed assets in Victoria, which all lie offshore in the Gippsland Basin.  It was reported that ExxonMobil is strategizing and that the assets were some of several, globally, that ExxonMobil may look to sell. ExxonMobil holds 50% in a number of licences in the Gippsland Basin, and it is thought it is looking to divest the interest in these producing assets.  BHP Billiton is the holder of the other 50%. The production licences in which ExxonMobil are thought to be selling interest are VIC/L01 to VIC/L11, VIC/L13 to VIC/L20. It is also thought to potentially include retention leases VIC/RL1 and VIC/RL4. ExxonMobil is thought to have attempted sale previously, looking for potential interested buyers for the producing Gippsland assets in the past.