NWS JV to Develop $2B Greater Western Flank Phase 2 Project Off Australia



Woodside Petroleum Ltd., as Operator of the North West Shelf (NWS) Project, announced Friday that the project participants have approved the Greater Western Flank Phase 2 (GWF-2) Project off the north-west coast of Australia.

The GWF-2 Project will develop 1.6 trillion cubic feet of raw gas (2P 100 percent project basis) from the combined Keast, Dockrell, Sculptor, Rankin, Lady Nora and Pemberton fields using subsea infrastructure and a 21.7 miles (35 kilometers), 16 inch pipeline connecting to the existing Goodwyn A platform.

The total investment for the project is expected to be approximately $2.0 billion (Operator’s estimate; 100 percent cost), with initial project start-up expected in 2H 2019.

Gas delivery will initially commence from five wells in the Lady Nora, Pemberton, Sculptor and Rankin fields, followed by the remaining three wells in the Keast and Dockrell fields in 1H 2020.

The GWF-2 Project is the fourth major gas development for the NWS Project in the past seven years, demonstrating a continued focus on maximizing value from this world-class asset by delivering sanctioned projects and developing reserves.

Woodside CEO Peter Coleman said GWF-2 is an economically robust project that will deliver significant value by leveraging Woodside’s substantial experience in delivering major subsea tieback projects.

“The GWF-2 Project continues a series of NWS Project subsea tiebacks that are commercializing its gas reserves in a timely and efficient manner to extend plateau production,” Coleman said.

The NWS 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 Australia Pty Ltd. (16.67 percent).



WHAT DO YOU THINK?


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 Billiton more info
Operates 2 Offshore Rigs
 - Private Oil Made a Big Find in Mexico. Now State Oil Wants a Cut (Oct 04)
 - BHP Gearing Up to Start Drilling for Oil in Mexico's Deep Waters (Oct 02)
 - BHP To Quit US Shale Business As Annual Profit Surges (Aug 22)
Company: BP plc more info
Operates 27 Offshore Rigs
 - BP Chairman Svanberg to Retire; Search Starts for Successor (Oct 19)
 - BP Midstream Partners Seeks To Raise Up To $893MM In IPO (Oct 16)
 - BP, Azerbaijan's SOCAR To Sign Caspian Sea Exploration Deal In 2017 (Oct 12)
Company: Woodside more info
Operates 4 Offshore Rigs
 - Chevron Starts LNG Output at Australia's Wheatstone (Oct 09)
 - Global LNG: Faltering Supply Prompts Short-Covering Price Rally (Aug 11)
 - Woodside Sees Output Growing 15 Pct Over Next Three Years (May 23)
Company: Chevron Corporation more info
 - Canada's Keyera Signs Pact With Chevron To Transport, Store NGL (Oct 10)
 - Chevron Starts LNG Output at Australia's Wheatstone (Oct 09)
 - Petrofac Extends North Sea Contract with Chevron (Oct 05)
Company: Japan Australia more info
 - Australia's Browse FLNG JV Decides Not to Proceed with Development (Mar 23)
 - 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)
Company: Royal Dutch Shell plc more info
 - Shell Shale Leader Discusses the 'Non-Moonshot' (Oct 17)
 - Jacobs Signs Sulfur Recovery Tech Deal with Shell-Pique's JV (Oct 11)
 - Refinery Blazes to Dent Shell 3Q Earnings (Oct 05)