Woodside Shelves Browse LNG Development Project (Australia)

Australia’s Woodside has completed its technical and commercial evaluation of the proposed Browse LNG Development near James Price Point in W. Australia and determined that the development concept does not meet the company’s commercial requirements for a positive final investment decision. 

A tender evaluation has recently been completed for all upstream and downstream scopes of work which showed that the development would not deliver the required commercial returns to support a positive final investment decision by Woodside. “Woodside acknowledges the high quality of the work which underpinned the bids received from these contractors,” said the company in a statement.

Related: W. Australia’s Environment Minister Approves James Price Point LNG Precinct

Woodside also acknowledges and thanks the communities in the West Kimberley, the Australian and Western Australian governments and the Shire of Broome for their support throughout the evaluation of the James Price Point development. Woodside will immediately engage with the Browse Joint Venture to recommend evaluation of other development concepts to commercialise the Browse resources, which could include floating technologies, a pipeline to existing LNG facilities in the Pilbara or a smaller onshore option at the proposed Browse LNG Precinct near James Price Point.

Woodside will propose to the Joint Venture a work program and budget for the remaining 20 months of the Retention Leases with a commitment to the timely development of the Browse resources. Woodside is the operator of the East and West Browse joint ventures. It holds a 34% equity interest in the East Browse joint venture and a 17% equity interest in the West Browse joint venture.

Read an interview with Woodside’s CEO Peter Coleman here.

 April 12, 2013

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply