Esso awards contracts for Kipper Project

Esso Australia Resources Pty Ltd., an ExxonMobil subsidiary, has awarded the key engineering contracts for the construction and development of the Kipper Gas Project in Bass Strait off southeast Australia.

Offshore staff

MELBOURNE, Australia -- Esso Australia Resources Pty Ltd., an ExxonMobil subsidiary, has awarded the key engineering contracts for the construction and development of the Kipper Gas Project in Bass Strait off southeast Australia.

"With the award of the key contracts for the Kipper Project, we expect that construction can now commence from the second half of 2008 and as such we remain on schedule to deliver first gas to South-East Australia in 2011," says ExxonMobil Australia Chairman Mark Nolan.

The Kipper field will be developed by the installation of a number of subsea wells, piped back to existing infrastructure at Longford. The contracts awarded include the supply of subsea equipment and facilities and their subsequent installation.

The Kipper resource holds approximately 620 bcf (18 bcm) of recoverable gas and 30 million barrels of condensate/LPG and is located in 100 m (328 ft) of water, approximately 45 km (28 mi) from Ninety Mile Beach on the Gippsland coast of Victoria.

The Kipper Gas Project joint venture includes Esso Australia Resources Pty Ltd., operator with 32.5%, BHP Billiton with 32.5%, and Santos Ltd. with 35%.

04/23/2008

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