North West Shelf JV approves oil redevelopment
The Woodside-led North West Shelf JV has approved a $1.8 billion (Aus.) redevelopment of Cossack, Wanaea, Lambert, and Hermes oil fields to support production beyond 2020.
MELBOURNE, Dec. 3 -- The Woodside Energy Ltd.-operated North West Shelf joint venture has approved a $1.8 billion (Aus.) redevelopment of Cossack, Wanaea, Lambert, and Hermes oil fields to support production beyond 2020.
The work centers on the purchase and conversion of the SBM-owned Okha floating storage and offloading facility to a floating production, storage, and offloading vessel to replace the on-site Cossack Pioneer FPSO in 2010. The conversion entails addition of topside production facilities to Okha.
The JV also will refurbish the existing riser turret mooring system and selected subsea facilities.
The aim is to produce additional oil from the region by extending the life of the four existing fields—about 135 km northwest of Karratha off Western Australia in 75-135 m of water—and adding production from nearby yet-to-be-drilled exploration prospects.
The timetable calls for the facilities to be completed and fully operational by early 2011.
Cossack and Wanaea came on stream in 1995, while Lambert and Hermes were later additions. Total production is just under 400 million bbl.
The JV—Woodside 33.33%, BHP Billiton 16.67%, BP Developments Australia 16.67%, Chevron Australia 16.67%, and Japan Australia LNG (MIMI) 16.67%—anticipates that the refurbishment will generate more than 60 million bbl of oil.