Apache, KUFPEC to join Wheatstone LNG development

Subsidiaries of Apache Corp. and Kuwait Foreign Petroleum Exploration Co. (KUFPEC) are joining Chevron to develop the Wheatstone liquefied natural gas (LNG) hub, offshore Australia.

Offshore staff

HOUSTON -- Subsidiaries of Apache Corp. and Kuwait Foreign Petroleum Exploration Co. (KUFPEC) are joining Chevron to develop the Wheatstone liquefied natural gas (LNG) hub, offshore Australia. Apache and KUFPEC have signed an exclusive agreement to supply gas from the Julimar and Brunello discoveries and become foundation equity partners in the Wheatstone project facilities.

Wheatstone's first phase will consist of two LNG processing trains with a combined capacity of approximately 8.6 million tons per year. The facility will be located at Ashburton North on the mainland of Western Australia. A final investment decision on the first phase of the project is slated for 2011, after the FEED is completed.

Chevron, which has a 100% interest in the Wheatstone field, will operate the LNG facilities with a 75% project interest. Apache's subsidiary, Apache Julimar, and KUFPEC's subsidiary, KUFPEC Australia (Julimar), will own the remaining 25% project interest.

10/23/2009

More in Company News