ExxonMobil has announced plans to sell its assets in the Gippsland Basin, off Victoria's south-east coast.
Offshore oil and gas platforms, the Longford gas plants and the Long Island Point plant near Hastings are expected to be sold.
“ExxonMobil will be testing market interest for a number of assets worldwide, including its operated producing assets in Australia, as part of an ongoing evaluation of its assets,” a company spokesperson said in a statement.
“No agreements have been reached and no buyer has been identified.”
Normal operations will continue throughout the sales process.
Australian Manufacturing Workers Union Gippsland organiser Steve Dodd said unions would be discussing the impact of the sale with the hundreds of members making up ExxonMobil’s offshore and onshore workforce.
“The information I've received is that they're getting their assets ready to obviously make them attractive to another operator or another buyer,” Mr Dodd said.
“It's going to take them a period of time for all of those things to be put in place.”