Echo-Yodel Production License Awarded

Woodside Energy Ltd. reports that the North West Shelf Venture Participants have been awarded production licenses for the Echo-Yodel gas-condensate field.

The production licenses, WA-23-L and WA-24-L, are over Location No. 2SL/98-9, previously within Exploration Permit WA-28-P. The Echo-Yodel field is located on the North West Shelf of Western Australia, about 75 miles north-west of Karratha and 15 miles south-west of the North West Shelf Venture’s Goodwyn A offshore production platform.

The licenses allow for the production of hydrocarbons from the field, which contains estimated probable reserves of 37 million barrels of condensate and 0.4 trillion cubic feet (Tcf) of gas over a four to five year period.

The Echo-Yodel development will comprise two subsea production wells tied back to the Goodwyn platform via a 12-inch diameter pipeline. Production from the field will be commingled with existing production on the Goodwyn platform, processed and exported to shore via the existing trunkline system.

The development is scheduled for start-up in mid-2002 and will help compensate for the natural decline in condensate production from the much larger Goodwyn field.

The six equal participants in the North West Shelf Venture are Woodside Energy Ltd. (operator); BHP Petroleum (North West Shelf) Pty Ltd; BP Developments Australia Pty Ltd; Chevron Australia Pty Ltd; Japan Australia LNG (MIMI) Pty Ltd; and Shell Development (Australia) Proprietary Limited.