Gurdip Singh
Special Correspondent
Australia

ADELAIDE, Australia-- ExxonMobil expects a final investment decision on the Kipper field off Victoria this year, and plans to assign a floater to begin development drilling from 2009.

Speaking at the three-day Australian Petroleum Production and Exploration Association 47th Annual conference and exhibition in Adelaide, ExxonMobil Australia Chairman Mark Nolan said the field is expected to come onstream in 2010.

ExxonMobil also expects to launch a "very active drilling program" in its fields in the Gippsland basin with a new high-power drilling unit testing out new leads identified by the company's recent A$100-million ($83-million) seismic survey.

ExxonMobil production from Gippsland fields has dropped by about 20-25% to about 140,000 b/d of crude oil and condensate as well as 600,000 cf/d of natural gas, but the company is launching an in-fill drilling this year, he said.

According to Nolan's estimate, the Gippsland fields contain 5-10 tcf of natural gas.

4/16/2007