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Woodside’s AU$2.75 billion NWS Phase 2 approved

The project will develop 1.6 Tcf of raw gas from the combined Keast, Dockrell, Sculptor, Rankin, Lady Nora and Pemberton fields using subsea infrastructure and a 35 km, 406 mm pipeline connecting to the existing Goodwyn A platform.

Start-up for the AU$2.75 billion project is expected in the second-half of 2019.

Woodside Chief Executive Officer Peter Coleman said the Phase 2 development is an economically robust project that will deliver significant value, leveraging Woodside’s experience in delivering major subsea tieback projects.

“The GWF-2 Project continues a series of NWS Project subsea tiebacks that are commercialising its gas reserves in a timely and efficient manner to extend plateau production,”? Mr Coleman said.

The investment has been welcomed by the Minister for Resources, Energy and Northern Australia Josh Frydenberg MP.

He said “The continued investment in this important project highlights Australia’s ability to develop our gas resources as we remain on track to become the world’s largest LNG exporter by 2019-20.

“At a challenging time, this announcement is another sign of the strength and resilience of Australia’s resources and energy sectors which have seen 15 projects worth around AU$13 billion approved for investment since November 2014.”?

According to a statement from Mr Frydenberg, Phase 2 will add to the AU$34 billion invested in the North West Shelf Project to date. Since it commenced production in 1984, the North West Shelf Project has provided more than 40 per cent of Australia’s total oil and gas production and has delivered more than 4,000 shipments of liquefied natural gas (LNG) to the Asia-Pacific region since its first cargo in 1989.

The Greater Western Flank Phase 2 Project is the fourth major gas development for the NWS LNG Project in the past seven years.

The NWS LNG Project is owned by the NWS joint venture, comprising BHP Billiton Petroleum (North West Shelf), BP Developments Australia, Chevron Australia, Japan Australia LNG (MIMI), Shell Development (Australia) and operator Woodside Energy.

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