Woodside Energy and its joint venture partner Mitsui E&P have made final investment decision to move ahead with the development of the $1.9bn Greater Enfield project located 60km off Exmouth in Western Australia.
The project involves development of Laverda Canyon, Norton over Laverda and Cimatti oil accumulations located offshore Western Australia.
The project is estimated to produce gross (100%) 2P reserves of 69 Million barrels of oil equivalent (MMboe) from the three oil accumulations.
Work involves drilling of six subsea production wells and six water injection wells while production will be supported with the help of subsea multiphase booster pumps in the Laverda area and gas lift in the Cimatti area.
Woodside CEO Peter Coleman said: "We have achieved investment spend at the low end of our guidance range by leveraging the latest technologies and using existing FPSO infrastructure.
"This allows us to accelerate the development of previously stranded resources.
"Greater Enfield is a demonstration of our phased and sustainable approach to growth."
Through a 31km subsea tie-back, the reserves will be produced to the Ngujima-Yin floating production storage and offloading (FPSO) facility, which is located over the Vincent oil field.
Woodside Energy is the operator of the Greater Enfield project with a 60% interest, while Mitsui owns the remaining 40% stake.
Image: Illustration of the proposed Greater Enfield development offshore Western Australia. Photo: courtesy of Woodside/ MITSUI & CO., LTD.