By OGJ editors
HOUSTON, July 1 -- Woodside Energy Ltd. has awarded a contract to Samsung Heavy Industries Co Ltd. of South Korea to construct the hull for a floating production, storage and offloading vessel for its Enfield oil development off Western Australia.
The 150,000 dwt, double-hull vessel will be 260 m long and will have a storage capacity of 900,000 bbl of oil. Design work will begin in advance of environmental approvals and a final investment decision, Woodside said, to ensure that the project will remain on schedule.
Subject to anticipated governmental approvals, Woodside expects to make a final investment decision in second quarter 2004, with production from the field expected in fourth quarter 2006.
Woodside holds a 100% interest in the Enfield project, which lies in permit WA-271-P, about 40 km northwest of the North West Cape. The permit includes Enfield, Vincent, and Laverda discoveries. The fields' combined proven oil reserves are estimated at 146.4 million bbl. Combined probable oil reserves are currently 216.4 million bbl, and the combined probable scope for recovery volumes are estimated at 103.1 million bbl.
Total Enfield development capital costs are estimated at about $1.5 billion (Aus.).
