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    Oz Woodside Upgrades Scarborough Resource Estimate

Summary

Woodside reiterated it is targeting a final investment decision for the development of the Scarborough gas resource in the first half of 2020.

by: Shardul Sharma

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Oz Woodside Upgrades Scarborough Resource Estimate

Australian Woodside November 8 said the estimated gross contingent resource (2C) dry gas volume for the Scarborough field has increased to 11.1 trillion ft3, up 52% from the previous estimate.

Woodside’s interest in Greater Scarborough (covering the Scarborough, Thebe and Jupiter fields) comprises a 75% interest in WA-1-R (which contains the majority of the Scarborough field) and a 50% interest in each of WA-61-R, WA-62-R and WA-63-R. Woodside is the operator of these retention leases.

As a result of the Scarborough resource volume increase, Greater Scarborough contains an estimated gross dry gas contingent resource (2C) volume of 13 trillion ft3, a 41% increase from the previous estimate, Woodside said.

Woodside reiterated it is targeting a final investment decision for the development of the Scarborough gas resource in the first half of 2020. Scarborough gas would be initially processed on a deep-water floating production unit and transported through an approximately 430-km pipeline to a proposed second LNG production train at the existing Woodside-operated Pluto LNG facility on Western Australia’s Burrup Peninsula.

“By unlocking the huge potential of the Scarborough gas resource we’ve strengthened the case for development and extended the expected cashflow from Scarborough for years.

“This resource upgrade further improves Scarborough’s existing value proposition as we target the delivery of a new, globally competitive LNG project from 2024,” Woodside CEO Peter Coleman said.