Woodside of Australia expects a final investment decision for the Scarborough gas field located offshore Western Australia by 2020.
The Perth-based LNG player purchased in November last year 50 percent of BHP Billiton’s interests in the gas field.
ExxonMobil’s affiliate Esso Australia Resources is the operator and owner of 50% of the Scarborough gas field in a joint venture with Woodside (25%) and BHP Billiton (25%).
In its full-year report on Thursday, Woodside said that the company has started work with the JV to progress towards commercialisation of the Scarborough area resources.
“Consistent with retention lease obligations, the development is positioning to support FEED readiness in 2018 and a FID by 2020,” Woodside said.
Scarborough, discovered in 1979, is located off the coast of Western Australia approximately 220 kilometres northwest of Exmouth in 900 metres of water. It is one of the most remote of the Carnarvon Basin gas resources.
The field holds approximately 8 trillion cubic feet of gas.
ExxonMobil has previously said that a floating LNG (FLNG) concept was considered the best option for developing Scarborough.
LNG World News Staff