Australian energy company Woodside Petroleum has informed that its Persephone project off W. Australia is going ahead of schedule and under budget.
Woodside said Thursday in its financial report for the second quarter 2017 that the project would be completed six months ahead of schedule.
The company also added that Persephone would be delivered some 30 percent under budget and would be ready for start-up in August 2017.
The original start-up estimate was early 2018, but Woodside said in October last year that it could be expected in the second half of 2017 due to improved efficiency on the project.
The Australian energy company had updated the status of the project in January this year . It stated that activities on the Persephone project were still going ahead of schedule and that the start-up could be expected in the third quarter of 2017.
The A$1.2 billion ($916 million) Persephone project, approved in 2014, consists of two wells tied into a subsea production manifold via a seven-kilometer subsea tie-back with production fluids transported to the existing North Rankin Complex (NRC), part of the large North West Shelf project.
The Persephone gas field is located in production license WA-1-L, some 135 kilometers northwest of Karratha in a water depth of about 126 meters. The field was discovered in 2006 via exploration well Persephone-1, located 8 kilometers northeast of the North Rankin Complex.
The North Rankin Complex, which will take gas from the Persephone, consists of the interconnected North Rankin A (NRA) and North Rankin B (NRB) platforms and associated subsea infrastructure, including two export trunklines which run between NRC and the onshore Karratha Gas Plant (KGP).
Offshore Energy Today Staff