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Browse FLNG FEED decision a positive boost for Australia’s oil & gas sector

Jul 2, 2015 Industry Supply

Browse FLNG FEED decision a positive boost for Australia’s oil & gas sector

 

Australia’s oil and gas sector has received a boost with Browse Joint Venture operator Woodside announcing the JV has agreed to undertake the front-end engineering and design (FEED) phase for the Browse FLNG Development off the WA coast.

 

The FEED phase will help determine the viability of the proposed Browse FLNG development, with the Australian service and supply sector in particular having its fingers crossed it will lead to a positive Final Investment Decision (FID) in late 2016.

 

Woodside CEO Peter Coleman said the decision to enter the FEED phase on Browse was a significant step towards developing the world class Browse resources.

 

“We are excited to be moving into the next phase of the Browse FLNG Development using FLNG technology. In particular, we acknowledge the support of key government stakeholders and especially commend the current and previous Ministers responsible for resources for their consistent, clear and long-term approach to oil and gas development.

 

“We will continue to work with governments, Australian industry, local communities and other relevant stakeholders to realise potential opportunities from this mega project,” he said.

 

The Browse FLNG Development concept is based on three FLNG facilities utilising Shell’s FLNG technology and Woodside’s offshore development expertise to commercialise the Brecknock, Calliance and Torosa fields (gross (100%) contingent resources (2C) of 15.4 trillion cubic feet of dry gas and 453 million barrels of condensate).

 

With the current string of Australian LNG developments up and running or well down the path to a start-up over the next few years, Browse has been viewed as the next big project opportunity for local contractors.

The announcement of the FEED decision is also being viewed as a positive sign that the major oil and gas players may again be in the capital expenditure mood after the industry had closed its wallets in line with the collapse of crude oil prices.

The Browse JV is made up of many of the region’s major LNG players, Woodside, Shell, BP, Japan Australia LNG (MIMI Browse) and BHP Billiton Petroleum.

 

Article submitted by PPR

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