Woodside reaffirms sustained efforts for Browse LNG project in WA
As the Western Australian government started the process of compulsory land acquisition in the Kimberley region, north of WA, Woodside Petroleum Ltd declared on Thursday that the $1.25 billion work program for its Browse liquefied natural gas (LNG) development project will push through and completion should be expected by mid-part of 2012.
The petroleum company said that the work program needs to be ready in order to allow the Browse partners to decide on their investment concerns on the project. Woodside said that its joint venture partners are BHP Billiton Ltd, BP, Chevron and Shell.
Woodside's declaration was made following the firm intent shown by the WA government to allocate land in the Kimberley region for the $30 billion LNG gas hub project with Premier Colin Barnett personally announcing that the state would commence the process of compulsory land acquisition.
The Perth-based company said that with the compulsory acquisition underway, the government could also use the opportunity to secure a dialogue and amicable settlement with traditional land owners in the area.
Mr Barnett's decision would also give some credence of importance and certainty for the development project, according to Woodside as it stressed at the same time that "we remain committed to delivering the benefits we have promised during our discussions with the Kimberley Land Council and Native Title claimants."
Woodside expressed confidence that the project would introduce substantial development benefits that would translate as a long-term support for the indigenous inhabitants in the region, far exceeding the $1 billion value of the work program.