Woodside Petroleum and its North West Shelf LNG venture partners executed two agreements to process gas through the project's facilities in Western Australia, the gas producer said on Dec. 23.
The Perth-based firm said the North West Shelf facilities will process about 7.5 million tonnes of LNG over five years from the Waitsia Gas Project Stage 2, owned jointly by Beach Energy and Japan's Mitsui & Co.
The project partners also signed a three-year deal to process about three million tonnes of LNG and 24.7 petajoules of domestic gas at the project's Karratha gas plant under a deal signed with Woodside Burrup, a unit of the company.
“The processing of third-party gas resources will unlock further value for the NWS Project,” Woodside CEO Peter Coleman said.
“It will provide new revenue and LNG exports from the NWS Project, add to Western Australia’s domestic gas supplies from Pluto and help underpin Australia's economic recovery.”
Woodside’s partners on the North West Shelf project include units of BHP Group, BP, Chevron and Shell.
The agreements mark a major step in transforming the Karratha gas plant into a third-party gas tolling facility and secure gas to fill processing capacity, the company said in a statement.
The Scoop and Stack plays are still in the money but only with improved well spacing and effective management of frac-driven interactions.
The heavy oil field in the Campos basin was shut in April 2020 due to a rupture of a riser at the Peregrino A platform during a test.
The affected platforms account for roughly an eighth of the total Cook Inlet basin oil production of a little more than 11,000 barrels per day, according to state data.