HOUSTON and PERTH, Australia, July
6, 2015 /PRNewswire/ -- Woodside Energy Ltd. and OneSubsea®,
a Cameron (NYSE: CAM) and
Schlumberger (NYSE:SLB) company, jointly announce that OneSubsea
has been awarded a front-end engineering and design (FEED) contract
for the proposed Woodside-operated Browse FLNG Development offshore
northwest Australia.
A dedicated team of OneSubsea experts, operating out of
OneSubsea's Perth city office,
will now work collaboratively with Woodside to fully define and
determine the optimal subsea production system design and equipment
requirements for the Browse FLNG Development.
The contract will involve up to 20 locally employed people
working on the subsea scope over the next 12 to 18 months as
Woodside prepares for a final investment decision (FID).
The scope was tendered to internationally and locally based
suppliers. OneSubsea was selected with a competitive proposal
reflecting the current economic climate.
Woodside CEO Peter Coleman said
the contract award is the first of a number anticipated to be
awarded in the future to Australian-based engineering firms,
manufacturers and suppliers associated with the subsea elements of
the Browse FLNG Development.
"Our local content commitment is focused on working with
Australian-based suppliers with world-class capabilities to partner
with us on our operations and developments," he said.
In 2013, OneSubsea opened a state-of-the-art life-of-field
facility in Kewdale, Western
Australia that was built to support Woodside and other
operators in the region. The facility will be key in the
development of this project.
Jack Moore, Chairman and CEO of
Cameron, a parent company of
OneSubsea, said, "engaging early with clients in the project life
cycle is key to determining the optimal, cost- effective solution
that aims to maximize project returns in the current economic
environment. This has been our approach with Browse and we are
excited to have been selected for this award."
"Through further collaboration with Woodside on this important
FEED, we will be able to apply the wide breadth of expertise
OneSubsea has to provide the optimal range of field development
options that align with the project's goals," he said.
The contract award is the first under OneSubsea's frame
agreement with Woodside signed in January
2014.
Under the terms of the five-year frame agreement, OneSubsea is
qualified to supply subsea equipment and services, including subsea
engineering services and life of field services, for selected
Woodside developments offshore Australia.
The Browse FLNG Development is proposing to commercialize the
Brecknock, Calliance and Torosa fields - collectively known as the
Browse resources – which are estimated to contain gross (100%)
contingent resources (2C) of 15.4 trillion cubic feet (Tcf) of dry
gas and 453 million barrels of condensate1.
Woodside is targeting a FID on the proposed development in the
second half of 2016.
1 Contingent resources are those quantities of
petroleum estimated, as of a given date, to be potentially
recoverable from known accumulations, but the applied project(s)
are not yet considered mature enough for commercial development due
to one or more contingencies. Contingent resources may include, for
example, projects for which there are currently no viable markets,
or where commercial recovery is dependent on technology under
development, or where evaluation of the accumulation is
insufficient to clearly assess commerciality. Woodside reports
Contingent resources net of the fuel and flare required for
production, processing and transportation up to a reference point
and non-hydrocarbons not present in sales products. Contingent
resources estimates may not always mature to reserves and do not
necessarily represent future reserves bookings. All Contingent
resource volumes are reported at the 'Best Estimate' (P50)
confidence level. The estimates of petroleum resources are based on
and fairly represent information and supporting documentation
prepared by qualified petroleum reserves and resources evaluators.
Unless otherwise stated all petroleum resource estimates refer
to those estimates set out in the Reserves Statement in Woodside's
most recent Annual Report released to ASX and available at
www.woodside.com.au/Investors-Media/Annual-Reports.
Woodside is not aware of any new information or data that
materially affects the information included in the Annual Report.
All the material assumptions and technical parameters underpinning
the estimates in the Annual Report continue to apply and have not
materially changed. The estimates have been approved by Mr
Ian F. Sylvester, Woodside's Vice
President Reservoir Management, who is a full-time employee of the
company and a member of the Society of Petroleum Engineers. Mr
Sylvester's qualifications include a Master of Engineering
(Petroleum Engineering) from Imperial College, University of
London, England, and more than 20
years of relevant experience.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/local-content-front-and-center-for-browse-flng-development-300109249.html
SOURCE Cameron