ExxonMobil’s subsidiary Esso Australia has completed A$335m ($248.4m) drilling program at the Turrum offshore oil and gas field in Bass Strait, Australia.
The company completed drilling of four gas wells and one oil well from the Marlin B platform.
ExxonMobil Australia chairman Richard Owen said: "The program involved drilling approximately 20km of technically complex wells and installing more than two thousand tons of casing, tubing and production equipment."
The Turrum field is part of $4.5bn Kipper Tuna Turrum (KTT) project, which is being developed off the Victorian coast in the Gippsland Basin.
EssoAustralia estimates the field to host around one trillion ft³ of natural gas, and 110 million barrels of oil and gas liquids.
Gippsland Basin, a joint venture equally owned by Esso Australia Resources and BHP Billiton Petroleumm, operates the Turrum and Tuna fields.
"Since the first well was drilled in 1965 in Bass Strait, approximately four billion barrels of crude oil and eight trillion cubic feet of natural gas have been produced," Owen added.
The KTT project includes hree offshore oil and gas fields including Kipper, Tuna and Turrum at a water depth of up to 110m.
Owen said that Gippsland Basin will continue to serve around 40% of gas requirements in the east coast Australia.