NWS JV to Develop $1B Persephone Project Off Northwest Australia

Woodside Petroleum Ltd., as Operator of the North West Shelf (NWS) Project, announced Thursday that the NWS Project participants have approved the Persephone Project off the north-west coast of Australia.

The Persephone Project is the third major gas development for the NWS Project in the past six years, demonstrating the joint venture’s commitment to maximizing the value of Australia’s largest operating oil and gas project.

The project will involve a two well, 4.3 mile (7 kilometer) subsea tieback from the Persephone field to the existing North Rankin Complex. The total investment for the project is expected to be approximately $1.02 billion (AUD 1.2 billion) (Operator’s estimate; 100 percent cost), with project start-up expected in early 2018.

Woodside CEO Peter Coleman said the Persephone Project would leverage Woodside’s core capabilities to unlock undeveloped resources and help maintain offshore supply to the Karratha Gas Plant.

“The NWS Project celebrated 30 years of domestic gas production and 25 years of LNG exports earlier this year and the approval of Persephone is the next step in continuing this success story,” Coleman said.

The Persephone Project participants are: Woodside Energy Ltd. (Operator 16.67 percent); BHP Billiton Petroleum (North West Shelf) Pty Ltd (16.67 percent); BP Developments Australia Pty Ltd (16.67 percent); Chevron Australia Pty Ltd (16.67 percent); Japan Australia LNG (MIMI) Pty Ltd (16.67 percent); and Shell Development (Australia) Pty Ltd (16.67 percent).

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
 Company: BHP Billitonmore info


 - BHP Billiton Named as Pemex's First Deepwater Oil Partner (Dec 5)
 - GTI, BHP Billiton Partner on Permian Fracturing Test (Oct 26)
 - BLOG: Challenging Attitudes toward Sexuality in Oil, Gas (Oct 25)
 Company: BP plcmore info


 - Canada Rules Out Arctic Oil Drilling Extensions for ExxonMobil, BP (Jan 6)
 - Samsung Wins Mad Dog 2 Fabrication Contract (Jan 5)
 - Egypt Signs $220M Of Oil And Gas Deals (Dec 28)
 Company: Woodsidemore info


 - Subsea 7 Secures Services Contract with Woodside Energy (Dec 2)
 - Australia Watchdog Says North West Shelf Gas Venture Underpaying Royalties (Nov 28)
 - Woodside: Oil, Gas Deal Environment Has Improved Over Past Year (Oct 20)
 Company: Chevron Corporationmore info
 - Argentina Clinches Deal to Attract Investment in Vaca Muerta Shale (Jan 11)
 - Oil, Gas Conflicts throughout Africa in 2016 (Jan 4)
 - SOCAR, AIOC Agree to Develop ACG Field (Dec 23)
 Company: Japan Australiamore info
 - NWS JV to Develop $2B Greater Western Flank Phase 2 Project Off Australia (Dec 11)
 - NWS JV to Develop $1B Persephone Project Off Northwest Australia (Nov 27)
 - Japan Australia LNG Terminates Purchase Deal with Woodside for Browse LNG (Jan 2)
 Company: Royal Dutch Shell plcmore info
 - Oil, Gas Conflicts throughout Africa in 2016 (Jan 4)
 - Total, Shell, Eni Eligible to Bid for New Iran Oil, Gas Projects (Jan 3)
 - Shell's CFO Pick Leaves Most Analysts Asking Simply 'Who?' (Dec 16)
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Sr. Turnaround Cost Analyst/Engineer
Expertise: Cost Engineer
Location: California, 
 
Senior EPC Estimator
Expertise: Cost Engineer
Location: Greenville, SC
 
US Houston: Tax Manager
Expertise: Accounting
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $55.45/BBL 0.99%
Light Crude Oil : $52.37/BBL 1.20%
Natural Gas : $3.42/MMBtu 0.88%
Updated in last 24 hours