FLNG consortium eyes Aussie pilot site
Norways Add Energy has teamed up with Transborders Energy (TBE), TechnipFMC and Modec to develop an FLNG solution for small-scale stranded resources.
The consortium says it will pick a site early next year for a debut development off the coast of Australia.
The project will target small discovered gas resources of 0.5 to 2.0 trillion cubic feet, finds that would otherwise be too expensive to extract due to their remote location or high facility development costs.
Offshore Australia has been identified as suitable for an initial pilot project, with a target resource to be confirmed early 2018 and the project to be reach final investment decision ready by 2020, Add Energy said.
This low cost concept represents a radical change in gas field development and will unlock hundreds of the worlds previously uneconomic smaller natural gas plays.
TBE managing director Daein Cha says the economies of scale pursued by mega projects have not eventuated.
They are too capital intensive and risky in terms of resilience and flexibility for what is a commoditizing business.
However, the deployment of our pre-determined, low cost small scale FLNG concept on already discovered but stranded resources with innovative financial and commercial structures establishes a new value proposition to the resource owners and LNG buyers.
Add Energy will manage the drilling operations, maintenance, safety and risk management of the projects and is the exclusive partner to engineer, procure, drill and operate the....