[Australia] Equus

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escveritas
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[Australia] Equus

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The Equus Gas Project is on track for first gas in 2024 following the completion of the Upstream to LNG Development Plan and commencement of project financing and partnering activities.

Western Gas Executive Director Andrew Leibovitch said that the engineering and design process undertaken by the company’s development partners McDermott and Baker Hughes, a GE company, had delivered a globally competitive, midscale LNG development plan for the Equus fields.

The Upstream to LNG Development Plan comprises three production wells tied back to a floating production storage and offtake (FPSO) facility, a 160 km dry gas export pipeline to a nearshore 2 Mtpa floating LNG (FLNG) facility and an onshore pipeline connection.

Mr Leibovitch said that the Upstream to LNG Development Plan and Western Gas’ design-to-install contracting model brought together the best upstream technology and installation techniques with a low capex, modular FLNG facility to deliver a bankable and globally competitive LNG supply.

Engineering and design will now focus on development of proposals for the subsea, FPSO, pipeline and FLNG work packages.

Western Gas has appointed Goldman Sachs as the company’s financial adviser in connection with its partnering process. “Equus is at the right stage of development where the introduction of an experienced and financially capable partner can help progress the project to first gas and realise the value of the greater Equus area,” Mr Leibovitch said.

“The partnering process together with the preparation of the project work packages will deliver Western Gas with the financial, project delivery and operational expertise to drive Equus into production in 2024.”

Mr Leibovitch added that 100% project ownership differentiated Equus from regional LNG projects. “With no joint venture misalignment, Western Gas has full control of project design, delivery and partnering across the value chain,” he said.

EQUUS GAS PROJECT: UPSTREAM TO LNG DEVELOPMENT PLAN

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The Equus Gas Project is a development-ready 2 Tcf gas and 42 MMbbl condensate (2C) project located offshore about 200 km north west of Onslow, Western Australia. Development of Equus will be phased, with the first phase comprising three production wells linked by subsea infrastructure to a floating production storage and offloading facility. Processing onboard the offshore facility will include gas dehydration, gas compression and condensate stripping for export. Dry sales gas will be piped to a nearshore LNG facility, with a nominal capacity of 2 MTPA of LNG. A pipeline connecting the nearshore facility with the Dampier to Bunbury Natural Gas Pipeline is also planned, increasing the connectivity and security of supply of Western Australia’s gas network.

ABOUT WESTERN GAS

Western Gas is a proud Western Australian company. Our strategy is to accelerate development of our 100%-owned Equus Gas Project and, through the development of the related infrastructure unlock the further potential of the greater Equus region’s resources and enable other resource owners to commercialise their stranded gas discoveries. Our key strength is our collaborative and flexible approach to all aspects of our business.
escveritas
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Re: [Australia] Equus

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DORIS PART OF WESTERN GAS EQUUS PROJECT IN AUSTRALIA

DORIS Engineering Australia is proud to be part of this exciting project and looks forward to continued support Western Gas from our Perth office as the Equus Gas Project progresses to the next phase, unlocking valuable offshore Western Australian gas resources.

DORIS has been supporting Western Gas since 2018, and recently completed a revised basis of design for a Subsea to Shore development concept.

We look forward to working with Western Gas and APA on this unique and nationally significant development.
escveritas
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Re: [Australia] Equus

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HIGHLIGHTS

• McDermott and Baker Hughes, a GE company (BHGE), completes Upstream to LNG Development Plan for Equus Gas Project
• Goldman Sachs appointed as financial adviser in connection with the partnering process
• Equus Gas Project provides a bankable and globally competitive mid-scale LNG supply
• Engineering and design will now focus on development of proposals for the major work packages

The Equus Gas Project is on track for first gas in 2024 following the completion of the Upstream to LNG Development Plan and commencement of project financing and partnering activities.

Western Gas Executive Director Andrew Leibovitch said that the engineering and design process undertaken by the company’s development partners

McDermott and Baker Hughes, a GE company, had delivered a globally competitive, midscale LNG development plan for the Equus fields.

The Upstream to LNG Development Plan comprises three production wells tied back to a floating production storage and offtake (FPSO) facility, a 160 km dry gas export pipeline to a nearshore 2 Mtpa floating LNG (FLNG) facility and an onshore pipeline connection.

Mr Leibovitch said that the Upstream to LNG Development Plan and Western Gas’ design-to-install contracting model brought together the best upstream technology and installation techniques with a low capex, modular FLNG facility to deliver a bankable and globally competitive LNG supply.
Engineering and design will now focus on development of proposals for the subsea, FPSO, pipeline and FLNG work packages.

Western Gas has appointed Goldman Sachs as the company’s financial adviser in connection with its partnering process. “Equus is at the right stage of development where the introduction of an experienced and financially capable partner can help progress the project to first gas and realise the value of the greater Equus area,” Mr Leibovitch said.

“The partnering process together with the preparation of the project work packages will deliver Western Gas with the financial, project delivery and operational expertise to drive Equus into production in 2024.”

Mr Leibovitch added that 100% project ownership differentiated Equus from regional LNG projects. “With no joint venture misalignment, Western Gas has full control of project design, delivery and partnering across the value chain,” he said.
escveritas
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Re: [Australia] Equus

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Western Gas, Operator and 100% owner of the Equus Gas Project, has signed an MOU with APA Group to undertake a joint development and marketing study to supply Equus gas at competitive prices to Western Australia and the East Coast via a transcontinental pipeline.

The scope of the study comprises a detailed assessment of development, commercial, marketing and regulatory aspects of the project, which will form the basis of an integrated bankable feasibility study.

The study is a key step in delivering a new and independent gas supply for Western Australia and East Coast gas customers.

The Australian owned upstream and pipeline projects would support long-term domestic energy needs, create new jobs, drive significant economic and social benefits, and increase national energy security.

The Equus Gas Project is a development-ready 2 Tcf gas and 42 MMbbl condensate (2C) project located offshore about 200 km north west of Onslow in Western Australia.

The independently certified low CO2 Equus resource is sufficient to supply 350 TJ/d of gas for more than 15 years. This gas supply is equivalent to 35% of WA gas demand, 75% of New South Wales (NSW) gas demand or about 35% of the combined gas demand of NSW and Victoria.

Western Gas plans to develop the Equus fields via a 210 km offshore pipeline to the Ashburton North Strategic Industrial Area (ANSIA). Establishment of this offshore pipeline has the potential to enable development of other stranded gas resources, creating opportunities for additional gas supply into domestic markets and new value-adding gas-related developments.

Gas supply to the East Coast would be via an onshore transcontinental pipeline. Equus provides the large scale, dedicated and proven gas resource necessary to support the development of the transcontinental pipeline and delivery of competitively priced gas to customers on both the West and East Coast markets
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Re: [Australia] Equus

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SASANOF-1 WELL CAMPAIGN COMPLETED

14 June 2022

Western Gas, Operator of WA-519-P, provides the following update and review of the Sasanof-1 well campaign, conducted approximately 207 km northwest of Onslow, Western Australia:

• The Sasanof-1 exploration well was drilled by the Valaris MS-1 without incident. The rig has demobilised from the well location and departed exploration permit WA-519-P on 12 June 2022.
• The well has been plugged and permanently abandoned, with wellhead infrastructure removed.
• The well was drilled to a total depth of 2390 m on 5 June 2022 and intersected the Lower Barrow Group target sands at a depth of 2252.9 m TVDSS, 3.9m below the prognosed pre-drill prediction.
• A preliminary evaluation indicates 40 m of net sand was encountered. However, the sands contained water and no commercial hydrocarbons were detected.
• Initial technical analysis indicates that the expected western seal of the targeted stratigraphic trap was breached allowing migration of gas out of the Prospect.
• As planned, the well cost less than US$25 million with a duration of 25 days.

COMMENT – WESTERN GAS

“Sasanof was drilled on time, on budget and without incident, which is testament to the hard work and focus of our team, contractors and world- class service providers.”

“We also acknowledge the support of our joint venture participants – Global Oil and Gas, Prominence Energy and Clontarf Energy.

“While we were disappointed with the geological outcome, we are fortunate to have a high-quality portfolio of exploration targets adjacent to our certified 2 Tcf low CO2 Equus resource, that are only more relevant in the current domestic and global energy market.

“We will continue to focus on our strategy of adding significant value to our portfolio through high impact exploration drilling and maturing our Equus Gas Project.”
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