Waitsia Gas Project FID 'by End-2017'

AWE and joint venture partner Origin Energy are moving swiftly towards the second stage of the Waitsia gas project in Western Australia’s Perth basin and have approved the 2017 development activities budget. It will include drilling the final two appraisal wells required for the project's second stage.

With an estimated 178 Bcf gross 2P reserves, Waitsia is thought to be the largest onshore conventional gas discovery in Australia for the last 30 years. 

David Biggs, CEO of AWE, said, “The joint venture has approved the budget and the schedule and we anticipate drilling Waitsia-3 and Waitsia-4 from April to June 2017, subject to approvals. These are the final appraisal wells planned ahead of stage 2 development and will provide valuable data and potentially increase our 2P reserves,”

The Waitsia gas project is operated by AWE, which has a 50% stake while Origin has the remaining 50% interest. The field is 367km north of Perth

“The project is making excellent progress and AWE is targeting a final investment decision by the end of 2017,” Biggs said. AWE meanwhile has commenced a tender process for Waitsia stage 2 gas sales and bids have been received. 

Shardul Sharma