Perth company Western Gas is on the hunt for a partner for its Equus gas field project off the coast of Western Australia, and has revealed a new development plan, with first gas expected in 2023.
Western Gas, which is led by executive director Andrew Leibovitch, announced today it was seeking services for full field development, including drilling, subsea, offshore processing and a gas pipeline to shore.
The project has reportedly been valued at $2.6 billion.
Mr Leibovitch said the company had prepared a fit-for-purpose design for the project.
“We have resized the project to match the discovered gas resource and to meet gas customers’ needs for long-term secure contracts and innovative pricing,” he said
“We’re now moving forward to secure a project partner and bring this gas to market.”
Western Gas acquired the project from US company Hess in November last year.
The assets include four permits and a retention lease, comprising 11 gas and condensate fields.
The company said today the project would comprise an offshore processing facility and a pipeline to shore, with landfall near Onslow.
“Development will be phased, with the initial development comprising three production wells linked by subsea infrastructure to a floating production storage and offloading unit,” Mr Leibovitch said.
“Facilities on-board the FPSO will include gas dehydration, condensate stripping and gas compression.
“Water depth at the well locations is 1,000 metres to 1,200 metres.”
Dry sales gas will be piped to shore via a 220-kilometre pipeline, with onshore facilities dependent on the outcome of gas marketing arrangements.
Gas supply is expected to be up to 250 terajoules of gas a day.
Mr Leibovitch said Western Gas was progressing the marketing of Equus gas with a focus on securing foundation customers, as well as undertaking project financing activities.
Front-end engineering design would start once customer arrangements were secured, with a final investment decision expected in late 2019, he said.
