Gulf Oil and Gas accountACCOUNT

BHP Billiton To Develop Stybarrow Oil Field In Exmouth Sub-Basin

Source: www.gulfoilandgas.com 11/24/2005, Location: Not categorized

BHP Billiton approved development of the Stybarrow oil field located in licence block number WA-255-P(2) in the Exmouth Sub-basin, approximately 65 kilometres from Exmouth, off the north west Australian coast. At a water depth of approximately 825 metres it will be the deepest oil field development ever undertaken in Australia.

Project costs for Stybarrow are approximately US$600 million, of which BHP Billiton’s share is 50% (approximately US$300 million). This expenditure includes the cost of field development. There is also a 10 year minimum service agreement with a Floating Production Storage and Offtake (FPSO) provider.

Discovered in February 2003, Stybarrow and the adjacent small oil rim of the Eskdale field have recoverable oil reserves estimated in a range of 60-90 million barrels of oil.

BHP Billiton Group President Energy, Philip Aiken, said the Stybarrow Development would expand BHP Billiton’s producing assets in Western Australia. “Stybarrow represents the first opportunity for BHP Billiton to commercialise reserves in the Exmouth Sub-basin which is increasing in importance as an oil province in Australian waters. Our focus in the region is in on seeking opportunities where discoveries can be appraised and rapidly advanced into developments,” Mr Aiken said.

The Stybarrow project involves a subsea development and an FPSO facility which will be used to process, store and offload oil to export tankers. The vessel will be disconnectable, double-hulled and able to process approximately 80,000 barrels of liquids a day.

First production is expected during the first quarter of calendar year 2008. The estimated economic field life is 10 years.

The Stybarrow project has been subject to a comprehensive environmental impact assessment process that has involved extensive consultation with the local community and other key stakeholders.

BHP Billiton is the Operator (50%), with joint venture partner Woodside Energy Limited (50%).

Offshore Construction News in Australia >>

Qatar >>  9/27/2020 - Milaha, one of the largest Maritime and Logistics Organizations in the Middle East, has entered into a formal agreement to cooperate with leading Amer...
Canada >>  9/24/2020 - The technology group Wartsila has won a contract for the delivery and integration engineering of two Retractable Thrusters and a Dynamic Positioning (...

Greece >>  9/23/2020 - Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that it has signed, through a separate who...
China >>  9/22/2020 - DOF Subsea have been awarded two contracts in the Asia Pacific region, securing backlog for the onshore team and offshore fleet. The first project in...

United States >>  9/22/2020 - Morrison, a leading energy service company for the oil, gas and renewables industries, announces the contract award by Hoactzin Partners, L.P. (Hoactz...
United Kingdom >>  9/21/2020 - Ocean Infinity have selected the Saab Seaeye Leopard to complement its pioneering ‘Armada’ fleet of unmanned surface robot vessels. The Leopard work-c...

Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

Related Articles: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 


Australia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |

More News

Related Links

AU NZ
Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.