ExxonMobil puts Victorian oil and gas assets up for sale

Global oil and gas giant ExxonMobil has put its assets in Victoria's Bass Strait on the market.

Mining giant BHP on Wednesday said it had been notified by Esso Australia of its intention to "market its interests in Bass Strait". Credit Suisse analyst Saul Kavonic has recently queried whether ExxonMobil and BHP may decide it was "best to pull out of Bass Strait gas lest they leave it too late as they did for the oil side of things".Industry source

"You shouldn't underestimate the value the right operator can get out of a late-life asset," he said. "They can be lucrative to a business that doesn't carry the same overheads." Australian Manufacturing Workers Union organiser Steve Dodd said the announcement was unexpected and he held concerns about members' jobs and conditions.

NickToscano1 rharris334 Probably done drained most the oil already

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