Woodside Shelves Browse FLNG Development

Following completion of front-end engineering and design (FEED) work, the Browse Joint Venture participants have decided not to progress further with the floating LNG development concept at this time considering the current economic and market environment, operator Woodside informed on Tuesday. 

The proposed Browse project is located 425 kilometers north of Broome in Western Australia. The project’s reference case is based on three FLNG facilities to develop the Brecknock, Calliance and Torosa fields in the Browse Basin.

Prior to the FEED work, the Browse Joint Venture selected Shell’s FLNG technology in conjunction with a subsea development as the preferred development concept for the Browse resources.

However, according to Woodside, extremely challenging external environment has offset the company’s focus on delivering targeted cost savings and value enhancements.

P_Coleman_800pxWoodside CEO, Peter Coleman, said: “We have undertaken a comprehensive and rigorous process to assess all elements of the development. The decision represents a disciplined approach to large-scale capital investment and is consistent with our requirements for a development concept to be commercially robust across a range of scenarios.

“Woodside remains committed to the earliest commercial development of the world-class Browse resources and to FLNG as the preferred solution, but the economic environment is not supportive of a major LNG investment at this time. Accordingly, we will use the additional time to pursue further capital efficiencies for Browse.”

Woodside said it will now work with the Browse Joint Venture participants to prepare a new work program and budget to progress development activities.

 

 

 

Share this article

Follow Subsea World News

Events>

<< Oct 2019 >>
MTWTFSS
30 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 3

6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

More info

read more >

OCEANS 2019

OCEANS is the bi-annual event for global marine technologists, engineers, students…

read more >

OTC Brasil

The conference is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum…

read more >

Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

read more >