Project Profile
Value: US$10,400 million
Location: WA-315-P and WA-314-P, Timor Sea, Western Australia
Start-up Year: 2017
The acreage is found next to the Torosa/Brecknock/Caliance gas and condensate field, which is currently being appraised by Woodside and is also adjacent to Inpex’s and Total’s Ichthys gas and condensate field.
The Karoon discovery attributes the three discoveries, Poseidon-1, Poseidon-2 and Kronos-1, with estimated resources of between 3 trillion and 15 trillion scf gas. One development option being considered would include a semi-sub production platform, a riser platform in shallower water, a 30 inch 230 km pipeline to the riser platform and a 40 inch 770 km pipeline to Darwin. Condensate and LPG would be produced to a FPSO vessel.
Exploration drilling
Phase 1 (2009 -2010): A four well drilling program. The first well, Poseidon-1, was a successful discovery followed by Poseidon-2 and Kronos-1.
Phase 2 (2012-2014): Six wells of which five, Boreas-1, Zephyros-1, Proteus-1, Pharos-1 and Poseidon North-1, were discoveries.
Operators:
ConocoPhillips: Operator with 10% interest in WA-314-P and operator with 40% interest in WA-315-P
Karoon Gas (Karoon): 90% interest in WA-314-P
Origin Energy Limited (Origin): 40% interest in WA-315-P
PetroChina: 20% interest in WA-315-P
Contractors:
CGGVeritas: 3D seismic survey contract
Fugro Survey Pty Ltd: Deepwater AUV survey
Transocean: Drilling contractor