First oil by world's biggest FPSO "Northern Endeavour" off north-west Australia

Nov 08, 1999 01:00 AM

First oil has been produced by the world's biggest Floating Production, Storage and Offloading vessel, the "Northern Endeavour", off the north-west coast of Australia. The news from the Laminaria and Corallina fields places operator Woodside Energy as Australia's leading hydrocarbon producer.
The company, which also operates the North West Shelf LNG and domestic gas projects, has a 50 % stake in the Production Licence AC/L5, which contains the two oil fields. The almost A$ 1.4 bn project is now building up to a maximum oil production rate of 170,000 bpd. On-site commissioning of the Singaporean-built FPSO took just one month, from hook-up on October 7 to first production on November 7.

The Laminaria field in the Timor Sea was initially discovered in late 1994, providing Woodside with the opportunity to develop its second crude oil project - and its first project outside the North West Shelf.
The FPSO facility is a barge type steel hull designed for 20-years field-life with a storage capacity of 1.4 mm barrels. Five-hundred-and-fifty km north west of Darwin, the "Northern Endeavour" is now permanently moored between the Laminaria and Corallina fields in 390 metres water depth.

As well as Woodsides, equity interests in AC/L5 and the Corallina oil field include BHP Petroleum and Shell Development, both with 25 %..
Equity interests in the Laminaria oil field, post unitisation, are Woodside 44.9 %, BHP 32.6 % and Shell 22.5 %.

Source: IINX via Iinoil
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