Woodside Approves $2.5B North West Shelf Development Project

Woodside Petroleum (WPL has announced today its approval of the $2.5 billion development of the Greater Western Flank (GWF) project to mark the expansion of North West Shelf. The first phase of GWF will also include the development of Goodwyn GH and Tidepole fields.

According to Woodside Chief Executive Peter Coleman, the GWF project will continue to supply to the Karratha Gas Plant and support the ongoing marketing efforts for domestic gas and LNG of North West Shelf. “This project will continue to maximise the value of existing infrastructure and demonstrates ongoing investment in Australia’s largest resource project,” he said.

As an operator, Woodside owns 16.67 per cent stake of the project that is expected to begin in 2016. Other stakeholders of the porject inclue BHP Billiton (BHP), BP, Chevron, Royal Dutch Shell and Japan Australia LNG.