North West Shelf Venture approves Angel development

Woodside says the development of the North West Shelf Venture's Angel gas and condensate field will begin immediately following final investment decisions by the JV participants.

Offshore staff

(Asia-Pacific) - Woodside Petroleum Ltd. says the development of the North West Shelf Venture's Angel gas and condensate field off the north west of Western Australia will begin immediately following final investment decisions by all of the joint venture (JV) participants.

The $1.2 billion project will include installation of the JV's third major offshore production platform off the North West Shelf and associated infrastructure, including a new 50-km subsea pipeline.

"The NWS Venture participant companies are excited to proceed with this new field development, which will underpin current gas contracts and future sales," says Woodside's Director of North West Shelf Ventures, Dr. Jack Hamilton.

The remotely operated Angel processing platform will be in 80 m of water about 49 km east of the Venture's existing North Rankin production facility.

Hydrocarbons will be produced through one processing unit with a capacity of up to 800 MMcf/d of gas and up to 50,000 b/d of condensate.

It will be tied in to the North Rankin platform via the new subsea pipeline.

The 7,500-ton Angel jacket substructure and 7,000-ton topside are expected to be installed and fully operational by 4Q 2008.

The jacket will be secured to the seabed by eight drilled and grouted, piled foundations, each weighing more than 3,000 tons.

The Angel development will include three production wells which are scheduled for drilling between 3Q 2006 and 2Q 2007.

The six equal participants in the NWS project are:

Woodside Energy Ltd. (16.67% and operator); BHP Billiton (North West Shelf) Pty Ltd. (16.67%); BP Developments Australia Pty Ltd. (16.67%); Chevron Australia Pty Ltd. (16.67%); Japan Australia LNG (MIMI) Pty Ltd. (16.67%); and Shell Development (Australia) Proprietary Ltd. (16.67%).

China's CNOOC NWS Private Ltd. is also a member of the North West Shelf Venture but does not have an interest in North West Shelf Venture infrastructure.

12/16/05

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