Ampolex Ltd., Sydney, has given a green light for a $480 million (Australian) initial development of its Wandoo oil field in the Carnarvon basin off Western Australia.
The project is the first step in a prospective four phase field delineation/development program that ultimately could cost as much as $1 billion during the next 12 months.
Wandoo is expected to produce as much as 40,000 b/d.
The field has been on extended production test since October 1993. The test confirmed the field's commerciality and showed that a horizontal drilling program is the best development plan. Ampolex estimates remaining reserves at 75 million bbl.
The company has spent $130 million on drilling and the extended production test to date. The test was conducted via Wandoo A monopod platform and production facilities on a nearby jack up with produced oil stored in a tanker moored nearby.
Development calls for installation of Wandoo B platform and drilling of another eight horizontal development wells and three gas and water injection wells. Two horizontal wells and a possible reentry of a well drilled from Wandoo A are to be completed by March 1995.
Ampolex also plans to construct a 500,000 bbl capacity concrete crude oil storage tank for installation on the seabed to store Wandoo oil prior to transfer to shuttle tankers. This is the first time this method, pioneered in the Norwegian North Sea, will be used off Australia.
Wandoo will continue to produce throughout the various phases of add-on development.
Ampolex holds a 100% interest in the field.
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