Bayu-Undan liquids project approved

The $1.4 billion Bayu-Undan liquids development project in the Timor Gap has been given the green light by operator Phillips Petroleum Pty. Ltd. and the majority of its partners. First production of liquids is scheduled to begin in late 2003 or early 2004.The field lies in 240 ft of water on Permits ZOCA 91-12 and 13 in the Timor Gap Zone of Cooperation Area (ZOCA) between Australia and Indonesia. Phillips discovered the field in 1995, and BHP Petroleum Pty. Ltd. confirmed an extension that same year. Nine successful appraisal wells have been drilled. The field has been unitized, but in April 1999, BHP sold its Bayu-Undan interest to Phillips.The liquids development project will involve p...

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