Waitsia JV Approves 2017 Development Activities Budget
AWE Limited announced Friday that the Waitsia joint venture has made “strong progress” in its preparations for Stage 2 of the Australian Waitsia gas project and approved the 2017 development activities budget, which includes the drilling of two appraisal wells.
“The joint venture has approved the budget and the schedule and we anticipate drilling Waitsia-3 and Waitsia-4 from April to June 2017, subject to approvals. These are the final appraisal wells planned ahead of Stage 2 development and will provide valuable data and potentially increase our 2P Reserves,” David Biggs, CEO of AWE Limited, said.
AWE also reported that it has commenced a tender process for Waitsia Stage 2 gas sales and that bids have been received.
“We have received an exceptional response from potential customers with bid volumes totalling more than double the joint venture’s 2P Reserves. The decision to align with customer demand from 2020 onwards is bearing out and discussions with potential buyers are proceeding well,” Biggs said.
“The project is making excellent progress and AWE is targeting a final investment decision by the end of 2017,” he added.
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.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- North America Enters Rig Loss Streak
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Rystad Looks at the Buzz Around White Hydrogen
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension