Woodside announces $1.9bn oil project
JOHANNESBURG (miningweekly.com) – Australian major Woodside Energy on Monday announced that it would proceed with the development of the $1.9-billion Greater Enfield joint venture (JV) project, offshore Western Australia.
The ASX-listed company would develop the project, which was located 60 km off Exmouth, in partnership with Japanese major Mitsui.
The Greater Enfield oil project would target the development of 2P reserves of 69-million barrels of oil equivalent from the Laverda Canyon, Norton over Laverda and Cimatti oil accumulations.
The project would entail a 31 km subsea tie-back to the Ngujima-Yin floating production storage and offloading facility, located over the Vincent oil field.
Woodside reported that the project required the development of six subsea production wells and six water injection wells. Subsea multiphase booster pumps in the Laverda area and a gas lift in the Cimatti area would support production.
Woodside CEO Peter Coleman said that monetising Greater Enfield was made possible by breakthroughs in the development concept, technology and contracting.
“We have achieved investment spend at the low end of our guidance range by leveraging the latest technologies and using existing FPSO infrastructure. This allows us to accelerate the development of the previously stranded resources,” he said.
Primary environmental approval for the Greater Enfield (Vincent) development was in place. Woodside reported that it would obtain secondary environmental approvals in due course to support project activities.
Woodside is the operator of the project and a 60% owner of the JV, with Mitsui holding 40%.
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