Woodside, BHP Align Scarborough Gas Field Interests

OE Staff
Wednesday, February 26, 2020

Australian companies Woodside and BHP have agreed to align their participating interests across the WA-1-R (Scarborough) and WA-62-R (North Scarborough) titles containing the undeveloped Scarborough gas field.

The alignment will result in Woodside holding a 73.5% interest and BHP holding a 26.5% interest in each title. According to Reuters, Woodside previously held a 75% stake in the W-1-R permit, while the W-62-R was held 50% each by BHP and Woodside.

Woodside and BHP have also agreed to apply for Production Licences in respect of both titles. The agreement is subject to regulatory approvals. 

Woodside CEO Peter Coleman said that aligning these interests will support the development of the Scarborough field across the two titles and demonstrates the strong commitment of the joint venture to making a final investment decision this year.

FID in 2020

"This is a world-class Australian resource. The Production Licence applications are another key step to unlocking the full value of the Scarborough resource through the expansion of our existing Pluto LNG facility," Coleman said.

The Scarborough field contains an estimated contingent resource (2C) dry gas volume of 11.1 Tcf (100%; 8.2 Tcf Woodside share, calculated using deterministic and probabilistic methods). 

Woodside is targeting a final investment decision in 2020 for the Scarborough development and first cargo in 2024.

Due to Scarborough's reservoir characteristics and close proximity to Woodside's Pluto LNG facilities, Woodside has said its preference is to process Scarborough gas through a brownfield expansion of Pluto LNG, adding a second LNG processing train.

Categories: Energy LNG Industry News Production Gas Australia/NZ

Related Stories

Brownfield Output Decline Accelerates, says IEA

POSH Set to Tow Nguya FLNG from China to Eni’s Congo Field

TotalEnergies Inks 10-Year LNG Supply Deal with South Korea’s KOGAS

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Inpex Picks FEED Contractors for Abadi LNG Onshore Plant

CNOOC Brings New Offshore Gas Field On Stream

China Starts Production at Major Oil Field in Bohai Sea

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Santos and QatarEnergy Agree Mid-Term LNG Supply

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Current News

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Yinson Production Nets DNV Approval for New FPSO Hull Design

Hanwha Ocean's Tidal Action Drillship Starts Maiden Job with Petrobras

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com