North West Shelf Venture Approves Angel Development



Development of the North West Shelf Venture's Angel gas and condensate field off the northwest of Western Australia will begin immediately following final investment decisions by all of the joint venture participants.

The A$1.6 billion project will include installation of the Venture's third major offshore production platform off the North West Shelf and associated infrastructure, including a new 50km subsea pipeline.

"The NWS Venture participant companies are excited to proceed with this new field development which will underpin current gas contracts and future sales," said Woodside's Director of North West Shelf Ventures, Dr. Jack Hamilton.

The remotely operated Angel processing platform will be in 80 meters of water about 49km east of the Venture's existing North Rankin production facility. Hydrocarbons will be produced through one processing unit with a capacity of up to 800 million standard cubic feet of gas a day and up to 50,000 barrels of condensate a day.

It will be tied in to the North Rankin platform via the new subsea pipeline.

The 7500 ton Angel jacket substructure and 7000 ton topside are expected to be installed and fully operational by Q4 2008.

The jacket will be secured to the seabed by eight drilled and grouted, piled foundations each weighing more than 3000 tons.

The Angel development will include three production wells which are scheduled for drilling between Q3 2006 and Q2 2007.

The six equal participants in the NWS Project are: Woodside Energy Ltd. (16.67% and operator); BHP Billiton (North West Shelf) Pty Ltd (16.67%); BP Developments Australia Pty Ltd (16.67%); Chevron Australia Pty Ltd (16.67%); Japan Australia LNG (MIMI) Pty Ltd (16.67%); and Shell Development (Australia) Proprietary Limited (16.67%).

CNOOC NWS Private Limited is also a member of the North West Shelf Venture but does not have an interest in North West Shelf Venture infrastructure.

RELATED COMPANIES
Company: BHP Billiton more info
Operates 1 Offshore Rigs
 - Private Oil Made a Big Find in Mexico. Now State Oil Wants a Cut (Oct 04)
 - BHP Gearing Up to Start Drilling for Oil in Mexico's Deep Waters (Oct 02)
 - BHP To Quit US Shale Business As Annual Profit Surges (Aug 22)
Company: BP plc more info
Operates 33 Offshore Rigs
 - Exxon, BP Targeted in NYC Suit That Relies on 'Nuisance' Theory (Jan 10)
 - Owners of Louisiana-Illinois Pipeline Eye Reversal Next Steps (Dec 21)
 - Canadian Offshore Oil Interest Grows As Pipeline Woes Sink Alberta Prices (Dec 20)
Company: Shell more info
Operates 30 Offshore Rigs
 - UK Firm Intertek Says Employee Involved in Shell Oil Theft Case (Jan 17)
 - Shell Looks Beyond Road Fuels to Secure Future of Refining (Nov 06)
 - API Panel Member: Voluntary Methane Program Forthcoming (Oct 06)
Company: Woodside more info
Operates 3 Offshore Rigs
 - Chevron Starts LNG Output at Australia's Wheatstone (Oct 09)
 - Global LNG: Faltering Supply Prompts Short-Covering Price Rally (Aug 11)
 - Woodside Sees Output Growing 15 Pct Over Next Three Years (May 23)
Company: Chevron Corporation more info
 - Oil Producers Want New Hearing on Impact of Magellan Proposal (Jan 17)
 - Exxon, BP Targeted in NYC Suit That Relies on 'Nuisance' Theory (Jan 10)
 - Angola LNG Production Setback Prompts Tender Cancellation (Jan 08)
Company: Japan Australia more info
 - Australia's Browse FLNG JV Decides Not to Proceed with Development (Mar 23)
 - NWS JV to Develop $2B Greater Western Flank Phase 2 Project Off Australia (Dec 11)
 - NWS JV to Develop $1B Persephone Project Off Northwest Australia (Nov 27)