woodside petroleum ltd (WOPEF) Key Developments
Woodside and Shell Enter Feed Phase for Browse FLNG Development
Jul 1 15
Woodside, as a participant in the Browse FLNG Development, advised that agreement has been reached to enter the front-end engineering and design (FEED) phase for the proposed development. The FEED phase involves undertaking the activities required to finalize the costs and technical definition for the proposed development to enable a final investment decision (FID). It includes determining a range of details related to the commercialization, timing and sequencing of FLNG deployment. The decision to enter the FEED phase
on Browse was a significant step towards developing the world class Browse resources. The Browse FLNG Development concept is based on three FLNG facilities utilizing Shell's FLNG technology and Woodside's offshore development expertise to commercialize the Brecknock, Calliance and Torosa fields (gross
(100%) contingent resources (2C) of 15.4 trillion cubic feet of dry gas and 453 million barrels of condensate).
As part of the entry into the FEED phase, the Browse Joint Venture participants entered into an Equity Alignment
deed (EAD), which comprises a series of exchanges of equity interests between the participants, establishing a
single aligned interest for each of the participants across the combined Browse project. No monetary
consideration was payable in respect of the EAD. Subject to approval and registration, Woodside's participating
interest in the Browse resources will be 30.6% (net Woodside 2C share of 4.7 trillion cubic feet of dry gas and
138.6 million barrels of condensate). In parallel, Woodside and the other Browse Joint Venture participants entered into a new Joint Operating Agreement (JOA) that sets out the governance and management arrangements for the assets of the Browse Joint Venture and supports the progression of the proposed development to FID. Woodside remains operator of the Browse FLNG Development. Woodside has also submitted acceptances to the regulators for retention lease renewal offers for petroleum retention leases WA-28-R, WA-29-R, WA-30-R, WA-31-R, WA-32-R, TR/5 and R2, on the terms and conditions offered by the Commonwealth-Western Australia Offshore Petroleum Joint Authority and the WA Minister for Mines and
Woodside Petroleum Reportedly Puts Laminaria-Corallina Up For Sale
Jun 26 15
Woodside Petroleum Ltd. (ASX:WPL) has reportedly put the Laminaria-Corallina oil project in the Timor Sea up for sale, and is thought to be in talks with a preferred buyer. Sources say a sale could value Laminaria-Corallina at between AUD 100 million and AUD 300 million.
Sempra LNG and Woodside Sign Memorandum of Understanding for Potential Development of Natural Gas Liquefaction Facility at Port Arthur, Texas
Jun 3 15
Sempra LNG announced it has executed a non-binding Memorandum of Understanding (MOU) with an affiliate of Woodside Petroleum Ltd. to commence discussions and assessments for the potential development of Sempra LNG's proposed Port Arthur liquefaction project in Port Arthur, Texas. The non-binding MOU is the initial step for Sempra LNG and Woodside to explore this opportunity and undertake due diligence for the potential development of the Port Arthur liquefaction project. Any decision to proceed with a binding agreement between Woodside and Sempra LNG in relation to the potential development of the project, including the establishment of any joint venture or partnership between Sempra LNG and Woodside, is contingent upon completing project assessments and achieving other necessary internal and external approvals for each party. The proposed Port Arthur liquefaction project would be located at a site previously permitted for an LNG regasification terminal and would be designed to include two natural gas liquefaction trains with a total export capability of approximately 10 million metric tons per annum, or 1.4 billion cubic feet per day, as well as LNG storage tanks and marine facilities for LNG ship berthing and loading.
Woodside Petroleum Seeks Acquisitions
May 22 15
Woodside Petroleum Ltd. (ASX:WPL) is looking for acquisitions. Peter Coleman, Chief Executive of Woodside Petroleum said, "We are ready for acquisitions again."
Woodside Petroleum Mulls Acquisitions
Apr 16 15
Woodside Petroleum Ltd. (ASX:WPL) is looking for potential acquisitions.