Fueling the economic development of a nation

ExxonMobil’s Bass Strait (Gippsland) operations have produced almost two-thirds of Australia’s cumulative oil production and almost 30 percent of Australia’s gas production. Just how significant Bass Strait has been in underpinning the economic growth of Australia is seen in the following figures:

• Since 1969, oil and gas production in Bass Strait has contributed over $200 billion to Gross Domestic Product (GDP) or some $2.2 billion per annum in nominal terms;
• Operations have stimulated approximately 50,000 permanent additional jobs in Victoria (14,000 in regional Gippsland alone);
• ExxonMobil's Bass Strait operations have been responsible for generating approximately $300 billion in Federal Government revenues in real terms (2.1 percent of all Government revenues collected in the period).