Archive for August, 2014
Woodside chief hints at start-up delay
August 27, 2014
Woodside Petroleum has made clear it will not rush into agreeing a domestic gas deal or the location of a Kimberley supply base with the State Government but insists the timetable for its Browse floating LNG development will not suffer as a result.
Woodside chief executive Peter Coleman hinted last week the formal start of front-end engineering and design work on Browse’s start-up may be delayed until early next year, though that should not jeopardise the push to make a final investment decision by the end of 2015.
“That (FID window) hasn’t moved out and the marketing (of Browse gas) is going quite well, its just down to price,” he said last Thursday after handing down Woodside’s half year profit. “We think we can get volumes away on price.”
Mr Coleman said he had spoken with the heads of Browse venture partners Royal Dutch Shell and BP, and said the feedback had been “very positive”.
“It fits within their project list,” he said. “The way we have structured the capital requirements for Browse has helped that. The phasing of Browse now makes it an easier decision.”
Mr Coleman said Woodside was yet to work out its supply base requirements but pointed to Broome and Derby as likely locations, particularly for Browse’s helicopter service. He ruled out James Price Point.
Analyst says Kimberley gas fracking company suffering at the hands of traditional owners and environmentalists
Buru Energy’s Yulleroo 4 well site where the company plans to frack for shale gas in 2015. (file) (Ben Collins -ABC Local)
Buru Energy has sacked 30 per cent of its workforce and delayed its fracking program as the company’s share price sinks to less than one-fifth of its all time high.
Industry analyst Peter Strachan says the trouble comes largely from problems with traditional owners and environmentalists.
“Uncertainty surrounding traditional owner approvals is the main drag. The company has said that it will do nothing without community support,” he says.