Woodside has announced that the Browse Joint Venture has agreed a revised schedule into front-end engineering and design (FEED) entry for the Browse FLNG development.
Woodside has completed basis of design (BOD) and key pre-FEED work for the proposed FLNG development. The company is now progressing additional strategic activities, including further progressing primary approvals, managing the impacts of the maritime boundary change affecting the Browse retention leases and additional technical work to optimise and de-risk the development.
Woodside CEO, Peter Coleman, has noted an opportunity to seek significantly lower cost outcomes for the Browse FLNG Development, following a shift in market conditions. He said: "The changes we are experiencing in our industry are starting to flow through our supply chain. We will use the time we now have to maximise long-term economic benefits for the development," he said.
Woodside expects the FLNG development to be in a position to enter the FEED phase in mid-2015 and is targeting a final investment decision (FID) in mid-2016.
Adapted from press release by Callum O'Reilly