NWS joint venture defers Lambert Deep gas field development

The Woodside Petroleum Ltd.-led North West Shelf joint venture has decided to defer the proposed Lambert Deep natural gas field development in the Carnarvon basin offshore Western Australia.

In a brief announcement as part of Woodside’s quarterly report, the company said the deferral had come following completion of front-end engineering and design for the project. The slump in oil and gas prices had been considered in making the decision.

Peter Coleman, Woodside managing director, said that instead, the JV would concentrate on the exploration prospectivity in the NWS region and the potential for integration of Lambert Deep with the portfolio of future gas supply options.

Coleman said, subject to a final investment decision, first production from Lambert Deep was now targeted for the early 2020s.

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