Woodside: Browse concept definition in 3Q. First FPSO to be ready in 2026
Australia’s Woodside is set to start working on the concept selection for the development of its long-delayed Browse offshore gas development in Australia.
The Browse project aims to bring online the Brecknock, Calliance and Torosa fields offshore W. Australia containing gross contingent resources (2C) of 15.4 trillion cubic feet of dry gas and 453 million barrels of condensate).
Woodside had planned to develop the fields using three separate Floating LNG units, however, the company in 2016 stopped the FLNG project citing “current economic and market environment.“
The company has recently revealed it is leaning towards the development using two gas Floating Production Storage and Offloading Units (gFPSO) delivering around 10 mtpa of gas to NWS infrastructure by an approximately 900 km pipeline.
In a recent investor presentation, Woodside said the two FPSOs would be connected to the North Rankin Complex, from where the gas would be shipped via a 900 km pipeline to the Woodside-operated North West Shelf infrastructure.
The Browse Joint Venture received a non-binding tolling proposal from the NWS Project to process Browse gas through existing infrastructure. Commercial discussions and joint technical studies are progressing between the two parties.
In its presentation, Woodside has said that the concept definition would begin in the third quarter of the year. FEED entry is slated for 2019, with the final investment decision expected in 2021.
According to Woodside’s timeline, the Calliance and Brecknock fields are expected to be ready for start-up in 2026, with 2027 targeted for the Torosa field.
Woodside expects the Browse JV will reach agreement on non-binding key tolling terms by end June 2018 with NWS JV.
The whole development is expected to cost some $20 billion.
Woodside is the operator of the project with a 30.60 percent interest. Shell owns 27 percent; BP 17.33 percent Japan Australia LNG (MIMI Browse) 14.4 percent, and PetroChina International Investment (Australia) Pty Ltd. 10.67 percent.
Offshore Energy Today Staff