Waitsia FID due by end of 2017
PERTH (miningweekly.com) – The joint venture (JV) partners in the Waitsia gas project, in Western Australia, are expected to make a final investment decision on the Stage 2 development by the end of 2017.
The Stage 2 development could supply 10% of Western Australia’s domestic gas demand, some 100 TJ/d, for ten years.
“Feedback from potential customers indicates that gas from Waitsia Stage 2 is a welcome addition to the Western Australian domestic gas market because it increases diversity of producers and offers a low-risk onshore supply train,” said ASX-listed AWE CEO David Biggs.
Meanwhile, AWE and its JV partner Origin have approved the 2017 development activities budget for the Waitsia JV, which will include drilling of the final two appraisal wells required for Stage 2 of the project.
AWE has also started the tender process for Waitsia Stage 2 gas sales, and some bids have already been received, Biggs said.
ASX-listed Origin earlier this week announced plans to spin out its conventional upstream business, including its Perth basin assets.
Biggs told shareholders on Friday that a new entity focused solely on upstream exploration and production should be a positive for the Waitsia project, and that it was unlikely to cause delays to the project schedule.
“Origin was very supportive of the Waitsia gas project Stage 1A and the sales process for their Perth basin assets, recently concluded, did not impact the schedule. First gas was successfully delivered on time and under budget in August 2016.
“On the numbers provided by Origin, Waitsia will represent around 25% of the new company’s current estimated 2P reserves, and will therefore be a valuable growth asset in a post-initial public offering environment.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation