August 27, 2018 / 7:27 AM / 5 months ago

Exxon starts deepwater drilling off southeastern Australian coast

A booth of U.S. major ExxonMobil is seen at the China (Dongying) International Petrochemical Trade Exhibition in Dongying, Shandong province, China May 29, 2018. REUTERS/Chen Aizhu

SYDNEY (Reuters) - ExxonMobil said on Monday it has commenced a A$120 million ($88 million) offshore exploration drilling off Australia’s southeast coast to search for new sources of natural gas.

ExxonMobil Australia is also actively considering a potential gas import project to bring additional supply to the country’s east coast market, Chairman Richard Owen said in a statement.

Reporting by Swati Pandey; Editing by Christian Schmollinger

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