Woodside brings Vincent onstream - Australia
This article is extracted from International Oil Letter, Vol 24, issue 35 dated 1st September 2008.
In the same week that the company posted a net profit of nearly US$ 1 billion for the first half of 2008, up 67% from the previous corresponding period, Woodside has also marked first oil from the Vincent field. Woodside said the hook-up, testing and commissioning of the Maersk Ngujima-Yin FPSO facility has been completed, and production is expected to increase steadily from the first six wells to reach 50,000 b/d and naturally decline to about 40,000 b/d by year-end.
Additional wells will be placed on production as required to supplement the decline. Vincent is located in production licence WA-28-L and has estimated recoverable reserves of about 73 MMb. It was discovered by Woodside in 1998 and is being developed in phases. The FPSO lies about 50km north of Exmouth in around 350m of water. Joint venture participants are Woodside (operator 60%) and Mitsui (40%). Other projects that are expected to boost the company’s production in 2008 include the Angel gas field, which is expected to start production in late September 2008 when scheduled maintenance at North West Shelf Train 4 is completed, and the LNG Train 5 expansion. The latter is expected to deliver its first LNG cargo in October.
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