Greater Enfield Project
Greater Enfield is a demonstration of our phased and sustainable approach to growth.
The US$1.9 billion Greater Enfield Project was approved for development in June 2016.
Located 60 km off Exmouth in Western Australia within Commonwealth waters the project will develop the Laverda Canyon, Norton over Laverda (WA-59-L) and Cimatti (WA-28-L) oil accumulations. These reserves will be produced via a 31 km subsea tie-back to the Ngujima-Yin floating production storage and offloading (FPSO) facility, located over the Vincent oil field.
The project is targeting development of gross (100%) 2P reserves of 69 MMboe (net Woodside share of 41 MMboe) from the oil accumulations. Woodside reserves increased by 41 MMboe in conjunction with the approval of the project for development.
Key to monetising this resource was our close collaboration with contractors, our adoption of the latest technologies, a phased development approach and the use of existing FPSO infrastructure.
The Greater Enfield drilling campaign commenced in Q1 2018 and is expected to take two years to complete. The subsea installation will commence in Q1 2018, starting with pipelay activities.
Woodside is targeting first oil mid-2019.
View the permit map here.
North West Shelf Greater Western Flank Projects
The broader Greater Western Flank (GWF) area consists of 16 fields located to the south-west of the Goodwyn A platform.
The GWF Phase 1 Project developed the Goodwyn GH and Tidepole fields, via a subsea tie-back to the existing Goodwyn A platform. First gas from the project was delivered in late 2015.
The NWS Project participants approved development of the US$2.0 billion GWF Phase 2 Project in December 2015. The project will develop the Keast, Dockrell, Sculptor-Rankin, Lady Nora and Pemberton fields via a 35km subsea tie-back to the Goodwyn A platform.
The Project remains on budget and is on schedule for start-up in H1 2019. The project continues to pursue opportunities to accelerate completion.
North West Shelf Persephone Project
The Persephone Project was a two-well subsea tieback to the North Rankin Complex, extending the NWS Project’s LNG production plateau.
Building on our proven capabilities and significant experience in delivering major subsea tiebacks, the project achieved start-up in July 2017, six months ahead of schedule and more than $300 million under budget (100% project).
The two wells are performing to expectation, achieving a total combined flow rate of 475 mmscf/d in support of production requirements.
Our acquisition of a share of the Scarborough area assets increases our resource base close to Woodside-operated infrastructure. In November 2016, Woodside completed the acquisition of half of BHP Billiton's Scarborough area assets in the Carnarvon Basin, located offshore Western Australia. The Scarborough area assets include the Scarborough, Thebe and Jupiter gas fields, which are estimated to contain contingent resources (2C) of 2.6 Tcf of dry gas (8.7 Tcf, 100%). Adding additional Carnarvon Basin volumes to Woodside's Australian portfolio complements our growth strategy and builds on our existing position in the region. The high-quality material resource base is well delineated with no further appraisal expected.
During 2017, Woodside will support the Scarborough operator to progress project optimisation activities and continues subsurface modelling studies in support of optimisation. Woodside is committed to achieving the best commercial outcome in developing this resource. Development concepts comprising either an FLNG facility or use of existing LNG process infrastructure on the Burrup Peninsula will be investigated and assessed in 2017.
Read the full ASX announcement here and for more information, read the Investor Pack here.