|Theme||Visible||Selectable||Appearance||Zoom Range (now: 0)|
After receiving several unsolicited inquiries from potential buyers, Chevron said it is looking to sell its 16.7% stake in Australia's A$34 billion ($23.3 billion) North West Shelf (NWS) LNG joint venture. The NWS project has been operating for 35 years and supplies oil and gas to Australian and international markets from offshore gas, oil, and condensate fields in the Carnarvon Basin, off the northwest coast of Australia. It is also the largest producer of domestic gas for western Australia. Operated by co-owner Woodside, other partners in the JV include BHP, BP, Japan Australia LNG, and Shell. "Chevron is continuing to high-grade its portfolio, and putting its 16.7% stake in the NWS up for sale makes a lot of sense," said Wood Mackenzie senior analyst David Low. "We see the NWS facility coming off full production this year, and going forward it will need third-party gas to keep the plant full."
The Senegalese government has approved an exploitation plan for the Sangomar field development offshore Senegal. Woodside submitted its development and exploitation plan for the field in early December. The government approval should pave the way for final investment decisions for the project to move forward. The FPSO is expected to have a production capacity of 100,000 B/D. First oil is targeted for early 2023, and the vessel will allow for the integration of potential future development phases, including gas export to shore and future subsea tiebacks.
Woodside has invested in Sapien Cyber, a Western Australian company specializing in the protection and security of critical infrastructure. Sapien Cyber was launched by the cybersecurity research team at Edith Cowan University, commercialized in partnership with Jindalee Partners, and refined in collaboration with Woodside. It is a 100% Australian-owned technology platform that provides clients network visibility, dynamic real-time monitoring, and actionable intelligence to reduce the vulnerability of digital systems to cyberattack. Woodside, the pioneer of Australia's liquified natural gas (LNG) industry, will take a 10% shareholding in Sapien Cyber, subject to satisfaction of conditions precedent. Woodside Chief Technology Officer Shaun Gregory will join the Sapien Advisory Board as an observer, noting the Sapien Cyber relationship effectively demonstrates Woodside's collaborative approach to innovation and technology.
This article, written by Special Publications Editor Adam Wilson, contains highlights of paper OTC 25002, “Deepwater Growth in Asia Pacific and Growing Regional Installation and Pipelay Vessel Capability To Meet the Challenges,” by Biren Kumar Dash, SapuraKencana Petroleum, prepared for the 2014 Offshore Technology Conference Asia, Kuala Lumpur, 25–28 March. The paper has not been peer reviewed.
The Asia Pacific region is expected to be the fastest-growing region in deepwater development in the next 5 years. Malaysia, Indonesia, China, India, and Australia together are expected to drive 85% of deepwater spending in the region. This paper presents various deepwater developments in the region, with a focus on deepwater pipelay involving steep S-lay/J-lay requirements and the availability of regional offshore deepwater installations and pipelay vessels to meet the challenges posed by future deepwater development.
Deepwater Growth in Asia Pacific
The Asia Pacific region is traditionally a shallow-water-development region, with most of the fields operating in water depth of less than 100 m. Currently, only a few fields operate in water more than 500 m deep, and most of these came on stream in the last 5 years. With the energy demand growing in the region, international oil companies and national oil companies are partnering to exploit more-remote deepwater fields.
Key Asia Pacific Deepwater Developments
Malaysia. Currently, 19 deepwater blocks are active with a water depth from 520 to 1735 m, where the average depth of deepwater development is 1224. m. Murphy Kikeh is the first deepwater development, in water depth of 1340 m, and has been producing oil since 2007. Deepwater capital expenditure offshore Malaysia over the next 5 years is expected to place Malaysia eighth globally over the period, with USD 6.5 billion directed toward 19 separate deepwater-field developments. The two key developments for the period are the Shell-operated Gumusut-Kakap and the Murphy- operated Rotan, with a new-built floating liquefied-natural-gas (LNG) facility expected to enter production by 2017. Eleven deepwater fields are expected to enter production over the next 5 years.
Indonesia. Currently, Chevron’s West Seno is the only deepwater development in Indonesia, producing in water depth of 975 m and using tension-leg-platform and floating-production-unit concepts since 2003. Nineteen deepwater developments are expected in the next 5 years in Indonesia, with the most-capital-intensive one being Chevron’s ultradeepwater Gendalo Gehem development.
Royal Boskalis Westminster has won a contract for the seabed intervention and shore crossing activities for Woodside's proposed Scarborough export gas pipeline in Australia. The scope of activities include the pre-trenching of the nearshore pipeline route along a 50-km section, offshore deepwater excavation works, pre-lay and post-lay rock installation for pipeline and fiber optic cable crossings, post installation burial and other protection works to ensure the stability of the pipeline. Seabed intervention and shore crossing work is scheduled to begin in March 2021 with an expected completion of mid-2022.