Exploration and production
BP Australia’s current exploration and production activities are predominantly focused on the North West Shelf Venture, which accounts for 80% of Australia’s liquefied natural gas production (LNG) and almost 25% of Australia’s crude oil production
Exploration of the North West Shelf Venture (NWSV) leases began in 1963. The joint venture includes some of the world's largest oil companies, such as BP, Shell and Chevron and is operated by Woodside Energy.
Significant gas and oil discoveries have made the NWSV Australia’s largest resource project with three main areas of activity; liquefied natural gas (LNG), domestic gas (or domgas) and oil production. BP has approximately a one-sixth equity share interest in the NWS joint venture.
The NWSV produces a range of hydrocarbon products: natural gas, LNG, liquefied petroleum gas (LPG), crude oil and condensate, with BP’s equity share production totaling 98.5 thousand barrels of oil equivalent per day in 2007. The start-up of the fifth LNG train in 2008, which has capacity of 4.4 million tonnes a year, will increase plant capacity of the NWSV to 16.3 million tonnes a year, making it one of the largest LNG facilities in the world.
Significant gas and oil discoveries have made the NWSV Australia’s largest resource project with three main areas of activity; liquefied natural gas (LNG), domestic gas (or domgas) and oil production. BP has approximately a one-sixth equity share interest in the NWS joint venture.
The NWSV produces a range of hydrocarbon products: natural gas, LNG, liquefied petroleum gas (LPG), crude oil and condensate, with BP’s equity share production totaling 98.5 thousand barrels of oil equivalent per day in 2007. The start-up of the fifth LNG train in 2008, which has capacity of 4.4 million tonnes a year, will increase plant capacity of the NWSV to 16.3 million tonnes a year, making it one of the largest LNG facilities in the world.
Infrastructure
Offshore facilities for the venture include two fixed platforms, North Rankin and Goodwyn and one floating production, storage and offloading vessel, the Cossack Pioneer. The current development of the A$1.6 billion Angel gas and condensate field will result in a third offshore platform to tie in to North Rankin.Onshore, the processing of gas occurs at Karratha on the Burrup Peninsula. The plant includes LNG processing trains, a natural gas plant to supply Western Australia, LPG and condensate processing facilities and storage and loading facilities for LNG, LPG and condensate.
In March 2008, with our joint venture partners, we took the final investment decision on a A$5 billion expansion at our North West Shelf venture to extend the life of the North West Shelf. The North Rankin 2 project will include a new platform and modifications to the existing North Rankin A platform to create one interconnected facility. The project will recover the remaining low pressure gas and extend the life of the North Rankin and Perseus gas fields.
Investing in new projects
As well as the operations of the NWSV, we have interests in two other offshore areas, incorporating the Browse and Io fields.Located some 425km north west of Broome, the Browse fields were initially discovered in 1971 and contain natural gas and condensate. Like the North West Shelf Venture, the Browse LNG development will be operated by Woodside Energy. With our co-venturers, we are considering a number of development options in consultation with governments and local communities.
The Io field, together with a series of nearby fields, will be operated by Chevron Australia as part of the Greater Gorgon Area development. BP is working with its co-venturers to progress the development of the Io field through the proposed LNG facilities on Barrow Island, also operated by Chevron and of which BP is not a part.
Exploration off South Australia
In January 2011, the Australian Federal Government and the South Australian State Government jointly announced that BP had secured four Permits to explore for oil and gas offshore South Australia.BP will commence a 3D seismic survey of the area in November 2011 after securing regulatory approvals from the State and Federal Governments.
Further exploration activity will require separate regulatory approvals and consultation with a .wide range of stakeholders including Federal and State Governments and regulators, other commercial operators in the GAB (such as the fishing industry), non-government organisations and community groups.
