Project plans, involving the construction and operation of a 12 million tonne per annum liquefied natural gas (LNG) processing facility, at the $30 billion-plus offshore Browse LNG Development have received the green light from the Environmental Protection Authority (EPA) for approval by regulators, a spokesperson with Woodside told Rigzone on Wednesday.
The proposed plans still need the blessings of Western Australia's state government and the federal government, the spokesperson confirmed.
The Browse LNG Development concept is to expected to commercialize the Browse joint venture's three gas and condensate fields – Brecknock (discovered 1979), Calliance (discovered 2000) and Torosa (discovered 1971)
– located 264 miles (425 kilometers) north of Broome, off the remote Kimberley coast. Gas and liquids from these offshore fields will be brought to an onshore LNG plant at the Western Australian government's Browse LNG Precinct, near James Price Point, 37 miles (60 kilometers) north of Broome.
The three fields contain contingent resources of 15.5 trillion cubic feet of dry gas and 417 million barrels of oil, according to data on Woodside's website.
Woodside is the major equity holder and the operator of the proposed Browse LNG Development.
"Woodside remains on track to be in a position to make a final investment decision on the proposed development in 1H 2013," Woodside said in a statement on Monday.
The Browse JV partners are Woodside, BHP Billiton Petroleum (North West Shelf), BP Developments Australia, Chevron Australia, and Shell Development Australia. The assets are spilt into two JVs - East Browse and West Browse - which contain different permits for the Browse fields, the spokesperson said.
Woodside holds the 50-percent majority stake in East Browse. BP Developments Australia and Chevron Australia each hold a 16.7-percent stake, while BHP Billiton Petroleum (North West Shelf) and Shell Development Australia each hold a 8.3-percent stake, the spokesperson revealed.
Woodside also holds the major stake in West Browse with 25-percent interest. BP Developments Australia, Chevron Australia and BHP Billiton Petroleum (North West Shelf) each hold a 20-percent stake while Shell Development Australia holds the remaining 15-percent stake, the spokesperson said.
Woodside is at present finalizing the sale of 14.7-percent of its stake in West Browse with Japan's Mitsui & Co and Mitsubishi (MIMI), the spokesperson added.
Quintella Koh has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at email@example.com.