Woodside has advised with Joint Venture participant Mitsui E&P Australia, the Greater Enfield Project has been approved for development.
The project will be located 60 km off Exmouth in Western Australia within Commonwealth waters and 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 oilfield.
Woodside CEO Peter Coleman said that monetising Greater Enfield was made possible by breakthroughs in the development concept, technology and contracting.
“We have achieved investment spend at the low end of our guidance range by leveraging the latest technologies and using existing FPSO infrastructure. This allows us to accelerate the development of previously stranded resources.
“Greater Enfield is a demonstration of our phased and sustainable approach to growth,” he said.
The Greater Enfield Project requires development of six subsea production wells and six water injection wells. Production will be supported by subsea multiphase booster pumps in the Laverda area and gas lift in the Cimatti area.
The project is targeting development of gross (100%) 2P reserves of 69 million boe (net Woodside share of 41 million boe) from the Laverda Canyon, Norton over Laverda and Cimatti oil accumulations. Woodside reserves will increase by 41 million boe in conjunction with the approval of the project for development.The total investment for the project is approximately US$1.9 billion total cost (approximately US$1.1 billion Woodside share) with first oil expected in mid-2019.The Greater Enfield Project is a joint venture between Woodside Energy Ltd (Operator, 60%) and Mitsui E&P Australia Pty Ltd (40%).
Adapted from a press release by Louise Mulhall
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/27062016/greater-enfield-oil-development-approved/