North West Shelf Venture
The North West Shelf Venture, situated in the north-west of Western Australia, is Australia's largest resource development project. It involves the extraction of petroleum (mostly natural gas and condensate) at offshore production platforms, onshore processing and export of liquefied natural gas, and production of natural gas for industrial, commercial and domestic use within the state.
With investments totalling $25 billion since the early 1980s, the project is the largest resource development in Australian history. In the late 1980s, it was the largest engineering project in the world. The Venture is underpinned by huge hydrocarbon reserves within the Carnarvon Basin, with only about one-third of the Venture's estimated total reserves of 33 trillion cubic feet (930 km3) of gas produced to date.
Owned by an international consortium, the venture is composed of six partners each holding a one-sixth share in the project. These are: Perth-based Woodside Petroleum; BHP Billiton; BP plc; Chevron Corporation; Royal Dutch Shell plc (which also own 24% of Woodside through Shell Australia); a venture between Mitsubishi Corporation and Mitsui & Co. called Japan Australia LNG (MIMI) Pty Ltd. North West Shelf Gas Pty Ltd. has a stake in the domestic gas phase of the project. Along with being a joint venture partner, Woodside is also the project operator on behalf of the other participants.
The venture currently has three currently active offshore facilities. A fourth, North Rankin B is under construction:
The condensate is transported to the Burrup Peninsula (Murujuga) onshore facility on the mainland 130 km away by two 42-inch (1.1 m) and 40-inch (1.0 m) undersea pipes.
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