Woodside is the major equity holder and operator of the Browse Joint Venture, which aims to commercialise the Venture’s three gas and condensate fields, Brecknock, Calliance and Torosa, which lie in the Indian Ocean, 425 km north of Broome in Western Australia.
These three fields are estimated to contain combined contingent volumes of 15.9 trillion cubic feet of dry gas and 436 million barrels of condensate - a globally significant resource in a location that is expected to be one of Australia’s next major LNG production provinces.
In February 2010, the Joint Venture participants unanimously selected a development concept that included the Western Australian Government’s proposed Browse LNG Precinct as the preferred location for onshore processing facilities, complying with the Browse Retention Lease conditions accepted in December 2009.
In April 2013, Woodside completed its technical and commercial evaluation of the proposed Browse LNG Development near James Price Point and determined that the development concept did not meet the company’s commercial requirements for a positive final investment decision. The evaluation was completed in line with the conditions of the Browse Retention Leases.
Woodside acknowledges and thanks the communities in the West Kimberley, the Australian and Western Australian governments and the Shire of Broome for their support throughout the evaluation of the James Price Point development.
Woodside is engaging with the Browse Joint Venture to recommend evaluation of other development concepts to commercialise the Browse resources in a timely manner, which could include floating technologies, a pipeline to existing LNG facilities in the Pilbara or a smaller onshore option at the proposed Browse LNG Precinct near James Price Point.
||Brecknock, Calliance and Torosa fields, 425 km north of Broome off the Kimberley coast|
||Up to 750m|
||15.9 Tcf of dry gas and 436 MMbbl of condensate|
WA-R-2, WA-TR/5, WA-28-R, WA-29-R, WA-30-R, WA-31-R, WA-32-R,
Shell Development (Australia) Pty Ltd
BP Developments Australia Pty Ltd
Japan Australia LNG (MIMI Browse) Pty Ltd
PetroChina International Investment (Australia) Pty Ltd