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December 2, 2021

Ichthys LNG Project Conventional Gas Field, Australia

By Carmen

Ichthys LNG Project is a producing conventional gas field located in shallow water in Australia and is operated by INPEX Ichthys. The field is located in block WA-285-P, WA-51-L, and WA-50-L, with water depth of 917 feet.

An expansion project is associated with the Ichthys LNG Project, namely Ichthys LNG Project Phase 2. This project is currently in the feed stage.

Field participation details

The field is owned by Inpex, TotalEnergies, Tokyo Gas, CPC, The Kansai Electric Power, Osaka Gas, Toho Gas, Chubu Electric Power and Tokyo Electric Power Co Holdings.


Production from Ichthys LNG Project

The Ichthys LNG Project conventional gas field recovered 9.73% of its total recoverable reserves, with peak production in 2020. The peak production was approximately 98.86 thousand bpd of crude oil and condensate, 44.49 thousand bpd of natural gas liquids and 1,143 Mmcfd of liquid natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2056. The field currently accounts for approximately 11% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 2,438.24 Mmboe, comprised of 397.19 Mmbbl of crude oil & condensate, 11,173.85 bcf of liquid natural gas reserves and 178.74 Mmbbl of natural gas liquid reserves. Ichthys LNG Project conventional gas field reserves accounts 0.79% of total remaining reserves of producing conventional gas fields globally.


Contractors involved in the Ichthys LNG Project conventional gas field

Some of the key contractors involved in the Ichthys LNG Project project as follows.

Design/FEED Engineering: Baker Hughes, Eni and McDermott International

Main EPC: Baker Hughes and McDermott International

Other Contractors: A.P. Moller – Maersk, Baker Hughes, Bombora-ESP, Cube Offshore and Halliburton

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Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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