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).