Wood hired to support Beach Energy’s subsea development
UK oilfield services provider Wood has secured two Front End Engineering and Design (FEED) contracts to support Beach Energy’s Trefoil field development opportunity in the Bass Basin off Australia.
The potential Trefoil Project is a subsea development at the Trefoil field, with a tie-back to the Yolla offshore platform.
Wood informed on Monday it would provide FEED services for both the platform topside modifications, and the subsea and pipeline system that would maximise recovery and extend the lifecycle of the assets.
Ralph Ellis, President of Wood’s Operations business in Australia, said: “We are delighted to continue our relationship with Beach Energy to deliver this strategic development. The contract wins demonstrate our strength in engineering and design as well as our detailed understanding of complex offshore brownfields projects and decades of experience in Australia including the Bass Basin and Otway development specifically.”
Enda O’Sullivan, Vice President of Consulting at Wood, said: “We are proud to support Beach Energy with a robust technical solution that could extend the life of their assets and help meet the needs of the local gas market.”
The Trefoil gas field is located 38 km east of the Yolla platform. The development of the Trefoil resources through the existing Yolla platform would extend the asset life by approximately 10 years, increase recovery from the Yolla field and defer abandonment of the Yolla platform and Lang Lang Gas Plant.
According to information on its website, Beach is targeting Final Investment Decision on Trefoil in H1 FY23, with potential for first gas from H2 FY25, subject to necessary internal and external approvals.
Net development capex stands between A$500 – 600 million ($388 – 465 million) with a forecast initial rate of return at under 20 per cent and the life of asset at around 15 years.