Browse JV offered retention lease renewals

LNG player Woodside said it has received retention lease renewal offers for petroleum retention leases WA-28-R, WA-29-R, WA-30-R, WA-31-R, WA-32-R, TR/5 and R2, from the Commonwealth-Western Australia Offshore Petroleum Joint Authority and the WA Minister for Mines and Petroleum.

Woodside has 30 days to accept the retention lease renewal offers, the company said in a statement on Wednesday.

Woodside and the other Browse Joint Venture participants on Monday also executed the Browse FLNG domestic gas deal with the State of Western Australia.

The deal sets out the Browse Joint Venture participants’ commitment to negotiate a development agreement with the State reflecting agreed principles for the application of the State’s Domestic Gas Reservation Policy and the establishment of a Western Australian anchored supply chain to support the proposed development.

The principles outline that the Browse Joint Venture participants will reserve for domestic use within Western Australia gas equivalent to 15% of LNG production from the State’s estimated 65% share of the Torosa field.