October DealsAmazon USOctober deal check: compare before you payAmazon US: current deals, useful picks and tech finds.Check DealsPC HealthRecommendedCrashes, freezes, slowdowns? Check your PC nowSpot repairable issues before they interrupt work.Check PCOctober DealsAmazon USDeal season is back - check today's better picksAmazon US: current deals, useful picks and tech finds.See Picks×
Skip to content
The Finance Base
The Money Desk · Blog
Re:

Woodside’s Joint Venture Approved the A$2.5 Billion Greater Western Flank Phase 1 Project

Woodside and its North West Shelf partners approved Greater Western Flank Phase 1 in 2011, a reported A$2.5 billion development of the Goodwyn GH and Tidepole fields. The early-2016 online date was a forecast at the time, not verified start-up.
From TheFinanceBase Team2 min to read

Free tools Windows power users keep installed

One-click scans. No signup required.

Special offer. See more information about Outbyte and uninstall instructions. Please review EULA and Privacy policy.

On 8 December 2011, Woodside and its North West Shelf partners approved Phase 1 of the Greater Western Flank (GWF), an offshore gas development covering the Goodwyn GH and Tidepole fields. The contemporaneous report put the investment at A$2.5 billion and forecast that the phase would come online in early 2016; that date was a forecast, not confirmation of when production actually began.

What the joint venture approved

The approval covered the first development phase in the broader Greater Western Flank area, offshore Western Australia. PerthNow reported the project cost as A$2.5 billion on 8 December 2011. That is the value reported at the time, not a current cost estimate.

The 2011 report named Goodwyn GH and Tidepole as the fields in Phase 1. BHP Billiton’s 2011 annual report describes the first phase, GWF A, as including Goodwyn GHA/B and Tidepole. The difference in the Goodwyn name reflects the terminology used in the two records.

Why Woodside said it was investing

Woodside chief executive Peter Coleman said the development was intended to maintain offshore supply to the Karratha Gas Plant and support the North West Shelf Project’s marketing of domestic gas and liquefied natural gas (LNG). He also said it would help maximise the value of existing infrastructure. The project was therefore planned as a development connected to an established offshore and onshore gas system, rather than as a standalone processing project.

Special offer. See more information about Outbyte and uninstall instructions. Please review EULA and Privacy policy.
#1 Best Overall

Who was involved, and what the historical share figure means

The 2011 approval report listed Woodside’s partners as BHP Billiton, BP, Chevron, Japan Australia LNG and Shell. BHP Billiton’s 2011 annual report identified Woodside as operator of GWF A with a 16.67% share at that time. That percentage is a historical interest in the phase and should not be read as a current ownership figure.

Woodside’s current North West Shelf project information lists Woodside, BP, Chevron, CNOOC, Japan Australia LNG and Shell as participants, and says Woodside has an aggregate 33.33% interest in most NWS joint ventures, with exceptions for CNOOC ventures. Those current project-level details are not a substitute for the specific 2011 GWF A interest.

What happened to the early-2016 schedule?

At approval, the phase was expected to come online in early 2016. The sources cited here do not establish the actual Phase 1 start-up date, so the announced schedule should not be presented as a verified production milestone.

Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Support on Ko-Fi

How the 2025 Greater Western Flank decision differs

Greater Western Flank activity continued after the original Phase 1 approval. Woodside’s 2025 annual report says participants reached a final investment decision on GWF 4 in 2025. That later development is a five-well subsea tieback to existing North West Shelf infrastructure, with production via the Karratha Gas Plant. It is a separate later phase, not a new description of the fields or scope approved in 2011.

Special offer. See more information about Outbyte and uninstall instructions. Please review EULA and Privacy policy.

Quick Recap

Sources

Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

Leave a Reply

Your email address will not be published. Required fields are marked *

Special offer. See more information about Outbyte and uninstall instructions. Please review EULA and Privacy policy.

More post from the Money Desk

  1. The Money DeskBlogTheFinanceBase09 OCT 267 minMortgage Escrow FAQs: Taxes, Insurance, Shortages, and Refunds
  2. The Money DeskBlogTheFinanceBase09 OCT 265 minHow Mortgage Escrow Accounts Work and What Homeowners Pay For
  3. The Money DeskBlogTheFinanceBase09 OCT 265 minHow to Read a Stock Chart, Volume and Market-Cap Data
Recommended PC Tool
Recommended PC Tool
Crashes, No Sound, or Screen Glitches?Free driver scan
PC Slower Than It Used to Be?Free scan - under a minute

Two free Windows tools

One Free Minute Could Fix That PC

Before you go - each of these free tools takes about a minute and tackles what quietly slows a Windows PC down.

Special offer. View Outbyte info, uninstall instructions, EULA, and Privacy Policy.