BHP Billiton Approves US$245 Million Spend On Cossack Oil Operation
The North West Shelf Cossack, Wanaea, Lambert, Hermes, or CWLH, redevelopment involves the replacement of the existing floating production vessel as well as refurbishment of subsea infrastructure and the existing riser turret mooring.
BHP said the project, which is expected to be fully operational early in 2011, will also capture additional oil production from the CWLH fields by extending existing field life and through tieback of exploration opportunities.
"We anticipate this project will generate over 10 million barrels of oil (BHP Billiton share) during its life and it will also extend the life of these fields beyond 2020," BHP Petroleum Chief Executive J Michael Yeager said in a statement.
BHP's partners in Cossack are project operator Woodside Petroleum Ltd. (WPL.AU), BP PLC (BP.LN), Chevron Corp. (CVX) and Japan Australia LNG.
-By Alex Wilson, Dow Jones Newswires; 61-3-9671-4313; alex.wilson@dowjones.com
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(END) Dow Jones Newswires
December 02, 2008 17:37 ET (22:37 GMT)
Publié le 02 Décembre 2008 Copyright © 2008 Dowjones
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