Woodside advises that the North West Shelf (NWS) Project participants have approved the development of the Persephone Project off the north-west coast of Australia.
The project is the third major gas development for the NWS Project in the past six years. It will involve a two well, 7 km subsea tieback from the Persephone field to the existing North Rankin Complex. The total investment for the project is expected to be approximately AUS$1.2 billion. The project is expected to start-up in early 2018.
Woodside believes that the project will leverage its core capabilities to unlock undeveloped resources and help maintain offshore supply to the Karratha Gas Plant.
Woodside CEO, Peter Coleman, said: "The NWS Project celebrated 30 years of domestic gas production and 25 years of LNG exports earlier this year and the approval of Persephone is the next step in continuing this success story."
The Persephone Project participants are: Woodside Energy Ltd (operator 16.67%); BHP Billiton Petroleum (North West Shelf) Pty Ltd (16.67%); BP Developments Australia Pty Ltd (16.67%); Chevron Australia Pty Ltd (16.67%); Japan Australia LNG (MIMI) Pty Ltd (16.67%); and Shell Development (Australia) Pty Ltd (16.67%).
Adapted from press release by Callum O'Reilly