A Woodside Energy Group (ASX:WDS) subsidiary, along with ExxonMobil's Esso Australia Resources unit and MEPAU A, will invest nearly $200 million in the Kipper 1B project in the Gippsland Basin offshore southeast Australia, according to a Monday statement from Esso Australia.
The project, backed by Woodside Energy (Bass Strait), will bring additional gas supply from the Gippsland Basin, per the statement. It will use a jack-up rig to drill and install one subsea well into the Kipper field.
Drilling is slated for launch later in the year.
Woodside Energy Group's shares were up almost 1% in recent Tuesday trade.
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