Joint venturers approve development of the Woodside-operated Otway gas project
By OGJ editors
HOUSTON, May 20 -- Woodside Energy Ltd., operator of Thylacine and Geographe gas discoveries in the Otway area, off southwestern Victoria, said that partners have approved field development plans.
Plans call for $1.1 billion (Aus.) to develop Thylacine and Geographe gas fields (OGJ Online, Aug. 5, 2003).
The fields, which lie 55-70 km south of Port Campbell, are expected to supply 950 bcf of gas, 12.2 million bbl of condensate, and 1.7 million tones of LPG, Woodside said. Production is expected to begin in the summer 2006.
The project involves initial expenditure of $810 million (Aus.) on Thylacine field in Tasmanian permit T/30P, about 70 km south of Port Campbell. Construction, expected to begin in October, will involve a remotely operated platform, offshore and onshore pipelines, and a new gas plant near Port Campbell.
Geographe field, 55 km south of Port Campbell in Victorian permit Vic/P43, will be connected with the main offshore pipeline in a later development phones.
Woodside operates the Otway gas discoveries and holds a 51.55% interest. The other joint venturers are Origin Energy Resources Ltd. 29.75%, Benaris International NV 12.7%, and CalEnergy Gas (Australia) Ltd. 6%.
