Global energy giant ExxonMobil has announced it will sell all of its assets in the Gippsland Basin, off Victoria's south-east coast.
The sale includes offshore oil and gas platforms, the Longford gas plants and the Long Island Point plant near Hastings.
Workers at the sites were told of the decision at 11am today.
"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 spokesman said in a statement.
"No agreements have been reached and no buyer has been identified."
Operations at the sites will continue as normal throughout the sales process.
Unions to speak with workers
The Australian Manufacturing Workers Union Gippsland organiser Steve Dodd said ExxonMobil has several hundred workers in the Gippsland Basin and the unions would be discussing the impact of the sale with the offshore and onshore workforce.
He said the unions were informed of the decision shortly before the workers.
"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."
He said he did not know how far the company had progressed in its plans to sell its assets.
