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The oil project is subject to government environmental approval and a final investment decision by Woodside but design work on the hull will start in advance to ensure the project remains on schedule.
Total Enfield development capital costs are estimated at about $1.5 billion, although the contract price for the FPSO hull has been withheld. Woodside expects to make a final investment decision in the second quarter of 2004 with production targeted for fourth quarter 2006.
The 260-metre long vessel will have a double-hull deadweight of about 150,000 tonnes and storage capacity of 900,000 barrels of oil and will be able to leave the site if the area is hit by bad weather, which sometimes occurs during the cyclone season.
The Enfield field and the nearby Vincent and Laverda discoveries are in permit WA-271-P, about 40km north-west of the North West Cape of Western Australia. Woodside has a 100% interest in the fields which have a combined proven oil reserve of around 146.4 million barrels.
