Japan-based Mitsui & Co, along with its partner Beach Energy, has taken a final investment decision (FID), which is subject to government approvals, related to the A$768m ($581m) expansion of Waitsia gas field in Western Australia.
Mitsui is the operator of the Waitsia Gas Project Stage 2 Development.
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The firm holds a 50% interest in the Waitsia field through AWE, which it acquired in 2018.
This acquisition expanded Mitsui’s oil and gas portfolio in Australia.
The onshore Waitsia field is located around 350km north of Perth, Western Australia, and considered to be one of the largest onshore natural gas fields in the country.
Besides increasing the reserves after AWE acquisition, Mitsui also secured access to LNG markets, through the LNG facilities owned by the North West Shelf Joint Venture (NWS JV) in which Mitsui has participation. All these factors enabled the Stage 2 development to advance.
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By GlobalDataThe Stage 2 Development will help in providing a reliable supply of LNG to Western Australian manufacturers and consumers.
The project is also expected to contribute to a low-carbon society by promoting fuel conversion to gas in the medium term.
With the Stage 2 Development, a gas production capacity of 250TJ/day will be added to the current Stage 1 capacity of 20TJ/day.
The Stage 2 Development involves drilling of additional wells and building of a new gas plant. Production from this stage is expected to commence in the second half of 2023.
