Woodside Prepares to Press Play at Persephone
Thursday 20 July 2017
Perth-based Woodside Petroleum is set to start-up its Persephone development off Western Australia next month, ahead of schedule and under budget.
Woodside revealed in its second quarter report on Thursday it was targeting to be ready for start-up at Persephone in August, six months ahead of schedule and 30% under budget.
The development was originally given the greenlight in 2014, with the cost at the time estimated at about A$1.2 billion ($956.9 million).
The development involves a two-well subsea tieback to the North Rankin complex, which is located about eight kilometres away from the Persephone-1 discovery well.
The Persephone field was discovered in 2006 and lies in production licence WA-1-L in a water depth of roughly 126 metres.
The field is estimated to hold 140 million barrels of oil equivalent, which equates to about 800 billion cubic feet of gas.