[Australia] Browse

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escveritas
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[Australia] Browse

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KBR Awarded Concept Definition Phase Engineering for Two Large Scale Gas FPSO's for the Proposed Browse to North West Shelf Development

- October, Date, 2018 -

KBR, Inc. (NYSE: KBR) announced today that Woodside Energy Ltd, as Operator for and on behalf of the Browse JV, has awarded KBR the Concept Definition engineering contract for the two gas FPSO facilities for the proposed Browse to North West Shelf Development, located offshore Western Australia.

Woodside has launched the engineering services contract to define all elements of the hull and topsides of two FPSOs for remote environment operations utilizing cutting edge technology. The engineering work is expected to be performed up to the end of H1 2019.

"We are delighted to be awarded the Concept Definition engineering of the two FPSO facilities delivering our operational agility in the execution of projects, strong base business and world class asset performance to the project," said Stuart Bradie, KBR President and CEO. "KBR is uniquely positioned to offer our proven technologies, digital delivery platform and our global portfolio of expertise. Alignment and collaboration are vital in this dynamic environment and with the increase in global energy demand, we are committed to strengthening our existing relationship with Woodside."

Estimated revenue associated with this project will be booked into backlog of unfilled orders for KBR's Hydrocarbons Services Business Segment in the fourth Quarter of 2018.
escveritas
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Re: [Australia] Browse

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Australian oil and gas giant Woodside has delayed the long-expected Final Investment Decision for the massive Browse gas development off W. Australia again.

The offshore area comprising the Brecknock, Calliance, and Torosa fields - the Browse resource - sits in the offshore Browse Basin, around 425 kilometers north of Broome in Western Australia.

Woodside aims to develop of 13.9 Tcf of dry gas and 390 MMbbl of condensate from the Browse resources.

The company had previously expected to reach FID on the $20.5 billion project in late 2020, then in the first half of 2021, and now the timeline has been pushed again, with FID expected in late 2021.

The Browse Joint Venture is ready to start FEED, subject to completion of gas processing agreement negotiations, Woodside said. Woodside is the operator with a 30.6% stake.

The FEED phase involves activities required to finalize the costs and technical definition ahead of FID and to prepare for the post-FID execution phase, including the preparation of contracts.

Further engineering definition work is continuing in the lead up to FEED entry, Woodside said.

The Browse development concept utilizes two FPSO facilities. It is designed to deliver 12 Mtpa of LNG/LPG and domestic gas through an approximately 915 km trunkline to existing NWS infrastructure, with condensate processed on the FPSOs.

The first FPSO should be ready for start-up in 2026 and the second FPSO in 2027.

Asked about the new FID date delay, Woodside CEO Peter Coleman said the Browse team has updated or has benchmarked the amount of time required to go through the FEED activities based on the complexity of the offshore facilities.

"To put it into context, the topsides for the offshore facilities are around about 45,000 tonnes which puts them into the top decile of complexity on a global scale. Not as complex as FLNG but certainly as complex as some of the larger FPSO facilities that you will see around the world."

Coleman said that given that the value is made or lost on these projects in early engineering, a decision was made to extend the FEED period by a few months.

"We're also recognizing that the commercial negotiations are still not complete. We're down to the last three or four value items. But. it's difficult for me to predict when that will actually be closed at the moment."
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Re: [Australia] Browse

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Woodside, as Operator for and on behalf of the Browse Joint Venture, is proposing to develop the Brecknock, Calliance and Torosa fields located approximately 425 km north of Broome in the offshore Browse Basin. Hydrocarbon resources contained in these fields are predominately gas, with contingent resources of 13.9 trillion cubic feet of dry gas, and approximately 390 million barrels of condensate.

The Browse Joint Venture proposes to develop the Browse hydrocarbon resources using two 1100 million standard cubic feet per day (MMscfd) (annual daily export average) Floating Production Storage and Offloading (FPSO) facilities. The FPSO facilities will be supplied by a subsea production system and will transport gas to existing North West Shelf (NWS) Project infrastructure via a pipeline which will tie in near the existing North Rankin Complex (NRC)* in Commonwealth waters

*The NRC is owned by the North West Shelf Joint Venture.

In September 2018, the Browse Joint Venture selected the Browse to North West Shelf development concept and commenced the concept definition phase.

Concept update

Woodside Energy Ltd (Woodside), as Operator for and on behalf of the Browse Joint Venture (BJV), is proposing to develop the Brecknock, Calliance and Torosa fields located approximately 425 km north of Broome in the offshore Browse Basin. In September 2018, the BJV selected the Browse to North West Shelf (NWS) development concept to progress into the concept definition phase.

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The proposed development concept is predominantly based on proven technologies, including:
  • Two floating production storage and offloading (FPSO) facilities delivering 11.4 Mtpa of LNG/LPG and domestic gas; and
  • An approximately 900 km pipeline to existing NWS infrastructure.
Developing Browse through existing Woodside-operated infrastructure has the potential to deliver a globally competitive project to the benefit of governments, communities, titleholders and infrastructure owners.
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