Our acquisition of a share of the Scarborough area assets increases our resource base close to Woodside-operated infrastructure.
The Scarborough area assets include the Scarborough, Thebe and Jupiter gas fields, which are estimated to contain contingent resource (2C) of 9.2 Tcf of dry gas. The estimate is based on a revised development scenario utilising existing Woodside-operated infrastructure on the Burrup Hub.
On 14 February 2018, Woodside announced it had entered into a binding Sale and Purchase Agreement to acquire ExxonMobil’s 50% interest in WA-1-R, which contains the Scarborough gas field. Upon completion of the transaction, which is targeted by end Q1 2018, Woodside will have a 75% interest in WA-1-R and a 50% interest in WA-61-R, WA-62-R and WA-63-R.1.
Completion of the transaction will increase Woodside’s net share of the contingent resources (2C) in the Scarborough area assets from 2.8 Tcf of dry gas to 6.4 Tcf of dry gas.
By providing greater alignment between Woodside’s upstream resources and downstream infrastructure and greater control over and certainty of development, this acquisition supports Woodside’s strategy of unlocking shareholder value. This is expected to create a pathway to development of the material, unallocated Scarborough gas field through a lower-cost brownfield expansion of our high-reliability Pluto LNG facility.
For more information, read the fact sheet here.