Woodside has flagged potential first Browse basin gas from the mid-2020s. However, it remains unlikely that the Perth-headquartered oil and gas producer intends to deploy floating LNG or construct a new onshore plant, as was the initial plan near Broome, if and once the suspended project does receive FID. At Woodside’s annual general meeting on Friday, CEO Peter Coleman gave a hint of where Woodside was heading with Browse, saying: “As you know, we have worked for some years to find the right development concept for the world class Browse resources. I’m very excited about where we are headed.
Archives for May 2017
May 2017
Arrow enters FEED for Surat expansion
“Arrow’s planned expansion of its Tipton operations may involve up to 90 wells in the initial phase and up to another 180 wells over the next 25 years,” Mr Turner said.
“This initiative – coupled with the recent announcement by QGC, a Shell joint venture, that it will soon start drilling up to 161 additional wells as part of Project Ruby – shows the industry in Queensland is getting on with the job.
Mr Turner said that all parties know that the only way to meet gas demands for exports, domestic manufacturing, and energy generation in a sustainable manner is to increase supply, which is exactly what Queensland operators are going.
Oil feels the squeeze
Oil discoveries declined to 2.4 billion barrels in 2016, compared with an average of nine billion barrels per year over the past 15 years, the International Energy Association (IEA) has reported. The IEA added that the volume of conventional resources sanctioned for development last year fell to 4.7 billion barrels, 30% lower than the previous year as the number of projects that received final investment decisions dropped to the lowest level since the 1940s.