Victoria's Acting Premier and Minister for State Development Peter Ryan has welcomed the announcement of the commencement of production on the Kipper Tuna Turrum project.
ExxonMobile announced the Bass Strait project on Tuesday.
It's set to improve the future of energy in Victoria and has already created 1,300 construction and installation jobs. It will cover three oil and gas fields, making it the largest domestic gas and oil development throughout the eastern seaboard.
Once complete, the project will provide enough energy to power a city of a million people for 35 years.
ExxonMobil is already producing natural gas from the Tuna field by way of two new pipelines. Oil is also produced from the Turrum field through the first new oil and gas platform installed in the Bass Strait in over ten years.
Ryan predicts the new resources will provide Victoria will new supplies of natural gas and a clean burning low emission source of energy for business, industries and households.
Bass Strait has been producing oil and gas for over 40 years.
The Victoria Coalition Government has also worked with the Wellington shire, government agencies and ExxonMobil to secure development approvals for a new Longford gas conditional plant.