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NORTH WEST SHELF VENTURE
The North West Shelf Venture (NWSV) is Australia's
largest resource development project, with investment totalling more
than AUD$15 billion since 1984. Based on huge gas and condensate fields
on the North West Shelf of Western Australia, the Venture supplies
natural gas to the domestic market in WA, liquefied natural gas (LNG)
to Japan and condensate, crude oil and liquefied petroleum gas (LPG) to
international markets.
The North West Shelf Venture comprises six internationally
recognised companies, with each participant holding an equal 1/6th
share in future gas sales (subject to various joint venture
arrangements). These companies provide valuable technical and marketing
expertise to the Venture's operating and sales activities.
The participants are BP Developments Australia Ltd., Chevron
Australia Pty Ltd, Japan Australia LNG (MIMI) Pty Ltd., Shell
Development (Australia)
Ltd., BHP Petroleum (North West Shelf) Pty Ltd. and Woodside Energy
Ltd. Woodside is the Operator of the project. Japan Australia LNG
(MIMI) Pty Ltd is a investment vehicle of
Mitsui and Mitsubishi.
Woodside, the Operator of the North West Shelf Venture, has its
headquarters in Perth, Western
Australia's capital city. Perth
hosts a growing oil and gas industry, with Western
Australia producing more than half of Australia's
total oil and gas production. In 2000, the Venture accounted for more
than a third of Australia's
oil and gas production.
The North West Shelf Venture currently has three offshore
facilities. North Rankin A gas Platform, Goodwyn
A Gas Platform and Cossack Pioneer floating production, storage and offtake (FPSO) facility.
North Rankin A (NRA) when commissioned in 1984,
was the largest gas production platform in the world, capable of
producing 1815 million standard cubic feet of gas per day (MMscf/day) and up to 47,400 barrels per day (bbls/day) of condensate. Modifications
has increased capacity by 50% ensuring it remains one of the
world's largest gas producing platforms.
Goodwyn A (GWA) platform began operations
in early 1995, producing large volumes of gas and condensate. Some of
the longest reach wells in the world have been drilled from the Goodwyn A platform. In late 2001, the Goodwyn platform was linked to the Echo/Yodel gas
and condensate fields via a 23km 12-inch pipeline three months prior to
schedule.
Cossack Pioneer Floating Production Storage and Off-Loading (FPSO) was commissioned in late 1995 and is the only oil
producing asset within the North West Shelf Venture. The Cossack
Pioneer produces up to 40,000 barrels a day of crude oil and offloads
crude oil via a flexible line to oil tankers moored astern of it.
Each year the North West Shelf produces more than 7.5 million tonnes
of LNG. The majority of these sales have been to Japanese customers
under long-term contractual agreements. Spot sales have been made to
buyers in the United States,
Spain
and Korea.
The first Australian cargo of LNG was exported to Japan
in 1989 and in 1999, the North West Shelf
Venture celebrated its 1000th cargo of LNG. Sales and deliveries to China commenced in 2008.
Currently the North West Shelf Venture is constructing the fifth LNG
train and a second trunkline to shore was completed in 2004.
For your reference:
- BP Developments
Australia Ltd.
- Chevron Pty Ltd.
- Shell Development
(Australia) Ltd.
- BHP Billiton Pty Ltd.
- Woodside Energy
Ltd.
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Copyright 2008. North West Shelf Gas