By June 15, 2016 Read More →

Exxon, BHP considering sale of Australia oil and gas assets


Exxon and BHP Billiton Ltd. are looking to sell 13 fields, licenses and infrastructure held in the Gippsland Basin joint venture.  

Exxon may sell Kingfish, Australia’s largest discovered oil field

By Matt Siegel

SYDNEY, June 15 (Reuters) – Exxon Mobil Corp and BHP Billiton Ltd said on Wednesday that they are considering selling depleting energy assets in Australia, including Kingfish, the country’s largest ever discovered oil field.

The resource giants are looking to market 13 fields, licenses and associated infrastructure held in the Gippsland Basin Joint Venture. The venture in Australia’s Victoria state began operations in 1969, according to BHP’s website.

“We are seeking to identify interested parties with proven experience and strength to operate and capture the remaining potential in these licenses,” a spokesman for Esso Australia, which operates the venture, told Reuters.

BHP and Esso Australia each hold a 50 percent share of the joint venture.

(Reporting by Matt Siegel; Editing by Manolo Serapio Jr.)

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