Woodside Petroleum Ltd. announced Monday that the firm and its joint venture partner Mitsui E&P Australia have given the go-ahead for the development of the $1.9 billion Greater Enfield Project, located 37 miles (60 kilometers) off Exmouth, Western Australia, with first oil targeted for mid-2019.
The project, which seeks to develop 69 million barrels of oil equivalent from the Laverda Canyon, Norton over Laverda (WA-59-L) and Cimatti (WA-28-L) oil accumulations, will be produced via a 19 mile (31 kilometer) subsea tie-back to the Ngujima-Yin floating production storage and offloading (FPSO) facility, deployed at the Vincent oil field.
The Greater Enfield Project covers the development of six subsea production wells and six water injection wells, with production supported by subsea multiphase booster pumps in the Laverda area and gas lift in the Cimatti area.
Woodside indicated that the monetizing of Greater Enfield was made possible by breakthroughs in the development concept, technology and contracting.
“We have achieved investment spend at the low end of our guidance range by leveraging the latest technologies and using existing FPSO infrastructure. This allows us to accelerate the development of previously stranded resources. Greater Enfield is a demonstration of our phased and sustainable approach to growth,” Woodside CEO Peter Coleman said in the press release.
Woodside Energy Ltd. operates the Greater Enfield Project with a 60 percent interest, while partner Mitsui E&P Australia Pty Ltd. holds the remaining 40 percent.
The firm revealed that primary environmental approval for the Greater Enfield (Vincent) Development is in place, while the secondary environmental approvals will be obtained by Woodside in due course to support project activities.
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