Woodside Energy (ASX:WDS) said it has assumed operatorship of the Gippsland Basin assets, including the Gippsland Basin Joint Venture (GBJV) and Kipper Unit Joint Venture (KUJV), from Esso Australia Resources, according to a Tuesday statement.

The company said it will apply its operating systems, governance, and technical capability to support the assets' lifecycle, including ongoing production, investment, and late-life asset management planning and decommissioning.

Woodside will also continue to assess development opportunities within the GBJV, with identified prospects having the potential to deliver up to 200 petajoules of additional gas supply to the east coast market, using existing infrastructure, the statement added.

Woodside and Esso Australia Resources each hold a 50% participating interest in the GBJV and 32.5% participating interest in the KUJV, with the Gippsland Basin assets being a key source of gas for Australia's east coast domestic market, the company added.