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April 23, 2010

Esso Australia has discovered another oil and gas well off Golden Beach, which could significantly extend the life of the existing Bass Strait fields.

The Nationals Member for Gippsland Darren Chester said new discoveries like the South-East Remora – 1 exploration wildcat well provided further security to local jobs in Gippsland.

The well is located 35km off the coast in Bass Strait and is included in the Gippsland Basin Joint Venture between Esso Australia Resources Pty Ltd and BHP Billiton Petroleum (Bass Strait) Pty Ltd.

Data analysis and additional studies are currently underway to evaluate the find – but the use of new technologies have assisted to extend the life of the existing Bass Strait fields.

Mr Chester said the latest find would build on Esso’s $3 billion investment in the Kipper and Turrum projects, which were creating more than 100 local jobs during the construction phase.

“This is not only another successful step forward for the company and its employees; it is great news for the local community,” Mr Chester said.

“Esso has a 40-year history of employing local people and contractors and has made a major contribution to the social and economic prosperity of the wider Gippsland region.

“Extending the life of the existing oil and gas fields in Bass Strait will secure the local workforce and provide increased opportunities in the future.

“The future of the oil and gas industry is vital for Gippsland and its viability must not be undermined by the Rudd Labor Government’s Emissions Trading Scheme (ETS) legislation.”

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