.FLNG

Browse Joint Venture (JV) is to start front-end engineering and design (FEED) for the Browse floating LNG Project off the Kimberley coast in Australia.

The project has already completed its preliminary front-end engineering and design (Pre-FEED).

Completion of the FEED phase will help finalise the cost and technical definition to advance the project to its final investment decision (FID).

The phase will also determine the commercialisation plans, timing and sequencing of FLNG deployment.

Browse JV shareholder include MIMI Browse (14.40%), Woodside Browse (30.60%), Shell Development (Australia) (27%), BP Developments Australia (17.33%), PetroChina International Investment (Australia) (10.67%).

The project plans to use three FLNG facilities utilising Shell’s FLNG technology and Woodside’s offshore development experience to explore 15.4 trillion cubic feet of dry gas and 453 million barrels of condensate from the Brecknock, Calliance and Torosa fields.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Woodside CEO Peter Coleman said the decision to enter the FEED phase on Browse was a significant step towards developing the world class Browse resources.

Coleman said: "We will continue to work with governments, Australian industry, local communities and other relevant stakeholders to realise potential opportunities from this mega project."

"We will continue to work with governments, Australian industry, local communities and other relevant stakeholders to realise potential opportunities from this mega project."

As the project enters the FEED phase, the partners involved signed an equity alignment deed (EAD), which the companies will exchange a series of equity interests between the participants, establishing a single aligned interest for all participants.

The JV, which Mitsui and Mitsubishi participate through Japan Australia LNG (MIMI Browse), has also agreed to integrate the East Browse and West Browse JVs.

Post integration, working interests held by MIMI Browse in the venture will be 14.40%.

According to the project partners, the target for a final investment decision is scheduled for the second half of 2016.

Last week, the Western Australian government signed an agreement with Woodside-led consortium for the provision of domestic gas from the Browse project.


Image: Shell’s Floating LNG. Photo: courtesy of Shell.