Woodside greenlights Greater Enfield

Australia

PERTH, June 27, 2016 – Woodside Petroleum and partner Mitsui E&P on Monday signed off on the Greater Enfield final investment decision that will see the two companies channel some USD 1.9 billion towards the field development project offshore Western Australia.

The project covers the Laverda Canyon, Cimatti and Norton over Laverda oil pockets, and will be tapped using six subsea production wells and another six water injection wells. Production from the development area, estimated to be home to 69 million barrels, will be tied back to the Ngujima-Yin floating production storage and offloading facility.

“We have achieved investment spend at the low end of our guidance range by leveraging the latest technologies and using existing FPSO infrastructure,” Woodside chief executive Peter Coleman said, adding that this would allow the development partners to “accelerate the development of previously stranded resources.”

First oil from the Greater Enfield project, operated by Woodside on a 60% stake, is scheduled for mid-2019.