Woodside to proceed with Laminaria Phase II off Australia

Perth-based Woodside Energy Ltd., operator of Laminaria and Corallina oil fields on Block AC/L5 in the Timor Sea off Australia, said participants have approved the $130 million (Aus.) Laminaria Phase II development.


HOUSTON, May 15 -- Perth-based Woodside Energy Ltd., operator of Laminaria and Corallina oil fields on Blcok AC/L5 in the Timor Sea off Australia, said participants have approved the $130 million (Aus.) Laminaria Phase II development.

The new project calls for two horizontal infill production wells to be tied back to the Northern Endeavour floating production, storage, and offloading vessel.

Drilling will begin later this year.

Woodside said initial production of another 65,000 b/d from incremental reserves and accelerated oil volumes will begin in mid-2002.

The boost will bring Laminaria-Corallina production to more than 200,000 b/d.

Participants in Laminaria are Woodside, with 44.9%; BHP Petroleum (North West Shelf) Pty. Ltd., with 32.6%; and Shell Development (Australia) Pty. Ltd., 22.5%.

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