Woodside Approves Enfield Development

Woodside Energy will proceed with its Enfield oil development off the coast of Western Australia following the final investment decision by the Woodside Board today to invest A$1.48 billion in the project.

The Enfield Project is in permit WA-271-P, about 40km northwest of the North West Cape in Western Australia. Enfield has reserves of more than 125 million barrels of oil.

Woodside holds 100% of the permit and is operator.

Woodside's Oil Business Unit Director, Dr Duncan Clegg, said the Board's decision was the most significant milestone so far in the development of Enfield.

"We now have all of our major environmental, government and project approvals in place and are well positioned to bring the field into production by the fourth quarter of 2006," he said.

"The development will be our first production in the Exmouth region, with initial output planned at about 100,000 barrels a day, and will provide growth potential through the tie-back of nearby discoveries such as the Laverda field and future regional discoveries."

Enfield was discovered in March 1999. Four further appraisal wells were drilled on the field up to November 2002.

The development will include five production wells and six water injection wells for reservoir pressure support with flowlines to a disconnectable floating production, storage and offloading vessel moored over the field in about 400 meters of water. Surplus gas not required for fuel will be returned to the reservoir via two gas injection wells.

The floating production, storage and offtake vessel will be owned and operated by Woodside. It will be a new, double-hull Suezmax-type trading tanker with topsides of 8000 tons and will be built by Samsung Heavy Industries in South Korea. It will have a dead weight of about 150,000 tons and will be about 270 meters long. It will have a storage capacity of 900,000 barrels and will discharge oil to trading tankers with capacity of about 550,000 barrels.

The Technip Subsea 7 Enfield Joint Venture will do offshore installation work and supply subsea flowlines and dynamic risers. Subsea hardware will be supplied by FMC. Topsides' engineering and procurement services are being managed in Perth by the Fluor Amec Joint Venture.