In Victoria, new natural gas supplies are essential to meet both current and future energy needs, ensuring reliable power generation, industrial processes, and residential heating. Forecasts indicate that the east coast gas market may experience gas supply shortfalls, unless new sources of supply are made available.

The Australian Government’s Future Gas Strategy^[1], the AEMO’s GSOO 2024^[2] and the ACCC’s Gas Inquiry 2017-2030^[3] all make clear that gas is expected to be used to support the transition of the electricity market as a firming generation source to support renewable energies.

[1] AEMO, 2024 Gas Statement of Opportunities, March 2024, p 23.

[2] Department of Industry, Science and Resources, Future Gas Strategy, Australian Government, May 2024, p 4.

[3] ACCC, Gas Inquiry 2017-2030, Interim Update on east coast gas market, December 2024, p-92

The Environment Plan was accepted by NOPSEMA in February 2025. Seabed surveys and exploration drilling will commence in 2025. The activities described in the Environment Plan will be completed no later than 31 December 2028. We will keep people informed about survey and drilling activities during this time.

ConocoPhillips Australia has demonstrated to NOPSEMA how the program meets the objectives of Australia’s robust environment regulations.

This included preparing an Environment Plan, which explains how impacts and risks associated with the program will be managed and reduced to levels that are as low as reasonably practicable and acceptable, in compliance with environmental protection and management laws^[1] including the principles of ecologically sustainable development^[2].

[1] The Offshore Petroleum and Greenhouse Gas Storage Act (OPGGS Act 2006) and the OPGGS (Environment) Regulations (2023).

[2] As set out in section 3A of the Environment Protection and Biodiversity Conservation Act (EPBC Act 1999).

Should exploration prove successful—subject to development plans meeting ConocoPhillips Australia’s investment, operational and cost of supply criteria—natural gas will be piped to the mainland, and will directly supply Victoria and the east coast domestic market. Further regulatory approvals and consultation would be required should the project proceed further than the exploration phase.

We will start drilling the first two exploration wells in 2025. The exact drilling locations are currently being determined.

Additional exploration wells will be drilled during the program.

We will provide an update when the exact drilling locations are confirmed.

Consultation with the community and relevant persons was an important part of developing the Environment

Plan. Through consultation we received and considered information unique to the activity area, putting additional control measures in place where appropriate.

We are committed to ongoing consultation throughout the life of the project.

Offshore gas exploration can sustainably coexist with marine and coastal users, including commercial fishers. We will keep marine and coastal users informed during exploration activities. The Otway Marine Industries Co-Existence Cooperative (OMICC) Adjust Protocol is an initiative aimed at promoting sustainable coexistence between marine industries in the Otway region. The protocol has been developed in consultation with peak fishing associations and commercial marine users to ensure that claims, including displacement, loss of catch, and fishing gear loss or damage, can be assessed and compensated. Commercial fishers are encouraged to find out more about this initiative and how it may apply to them.