Woodside
signs FPSO contract for Enfield development
Posted: 1 July 2003
Woodside Energy Ltd. has let the first major construction contract
for its Enfield oil development off the North West Cape in Western
Australia.
The contract for construction of the hull for a floating production,
storage and offloading (FPSO) vessel has been signed with Samsung
Heavy Industries Co Ltd, of South Korea.
Woodside’s Enfield Area Development General Manager, Duncan
Clegg, said design work on the hull would start in advance of environmental
approvals and a final investment decision to ensure the project
remained on schedule.
“The successful execution of Enfield will create significant
growth for Woodside and this contract allows us to commence the
initial stages of development without pre-empting the final approvals
process,” Mr Clegg said.
The 260-metre long vessel will have a double-hull, deadweight of
about 150,000 tonnes, and storage capacity of 900,000 barrels of
oil. It will be self-propelled and able to leave location in bad
weather.
The Enfield Project is in permit WA-271-P, about 40km north-west
of the North West Cape. Woodside has a 100 per cent interest in
the permit, which includes the Enfield, Vincent and Laverda discoveries.
The fields’ combined proven oil reserves are currently estimated
at 146.4 million barrels.
The combined probable oil reserves are currently 216.4 million
barrels and the combined probable scope for recovery volumes are
currently estimated at 103.1 million barrels.
A decision on environmental approval for the project under Commonwealth
legislation is expected soon and, subject to this, Woodside expects
to make a final investment decision in the second quarter of 2004.
Production from the field is expected in the fourth quarter of
2006.
Total Enfield development capital costs are estimated at about
A$1.5 billion.
The contract price for the FPSO hull is confidential.
Posted by Richard Price,
Editor Pipeline Magazine
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