ExxonMobil invests in Ignite Energy's Australia CSG venture

By OGJ editors

An affiliate of ExxonMobil Australia Pty. Ltd. agreed to obtain an initial 10% interest in an onshore Exploration License 4416 in the Gippsland basin of southeast Victoria, Australia, from Ignite Energy Resources Ltd.

The ExxonMobil affiliate is Esso Ventures LLC. During the next 12-18 months Esso Ventures and IER will jointly evaluate and assess the natural gas potential in the license’s coal seams to determine whether it can be commercially produced.

IER plans to operate the preliminary assessment phase. EL4416 covers more than 3,800 sq km. Financial terms of the agreement were not disclosed.

IER has offices in Melbourne and Sydney with an onshore resource portfolio and a lignite and biomass upgrading technology being demonstrated at its Somersby facility near Sydney.

Esso Australia Resources has operated the Bass Strait Joint Venture for more than 40 years.

Related Articles

Baker Hughes: US drilling rig count drops to 1,803

03/21/2014 After consecutive weeks of significant gains, the US drilling rig count lost 6 units to 1,803 rigs working during the week ended Mar. 21, Baker Hug...

Cenovus gets AER approval for Grand Rapids oil sands project

03/21/2014 Cenovus Energy Inc. reported that it has received approval from the Alberta Energy Regulator (AER) for its wholly owned Grand Rapids thermal oil sa...

Shell lets contracts for Majnoon development

03/18/2014 Shell Iraq Petroleum Development BV has let engineering and procurement services contracts to Foster Wheeler Kentz Energy Services DMCC, Dubai, for...

Ivanhoe halts Tamarack oil sands project citing lack of regulatory ‘clarity’

03/18/2014 Ivanhoe Energy Inc. has suspended activity on its Tamarack oil sands project pending approval for its thermal oil sands application from the govern...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected