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KUFPEC Declares Julimar Phase 3 (JDP3) FID19 Jun 2023
KUFPEC Declares Julimar Phase 3 (JDP3) FID
The Wheatstone LNG Project is one of Australia’s largest hydrocarbon resource developments and KUFPEC’s major asset, delivering approximately 41% of the company’s total production.
KUFPEC holds 35% share in Julimar-Brunello (JB) fields operated by Woodside Energy Julimar Pty Ltd (Woodside). Both fields supply ~20% of the total raw gas demand to the Wheatstone Project. The remaining gas is provided by the Chevron operated Wheatstone and Iago fields. The Julimar-Brunello Development Project (JDP) is split into multiple development phases in order to manage ullage, and progressively develop the reservoir targets contained within the 2 fields. To date, 2 phases, comprising 8 wells, have been completed and are successfully producing.
Phase 1: Brunello field development (5 wells on production in 2017)
Phase 2: Initial Julimar development (3 wells on production in 2021)
In its constant endeavor for securing future supplies and maximizing capacity value, the Julimar-Brunello Joint Venture (JBJV) has successfully progressed the Third Phase of Development (JDP3) by securing positive FID. The milestone was reached in April 2023 after the Boards of both JV partners (KUFPEC and Woodside) provided approval for execution of the JDP3 project. The JDP3 project is anticipated to secure significant reserves and production to KUFPEC.
The project team consisting of both Woodside and KUFPEC have worked together to optimize the reservoir targets and the field development concept. This collaboration has ensured maximization of reserves and cost optimization. As part of the reservoir target selection, KUFPEC utilized the 4D seismic data with innovative analysis which have proved to be critical in the final selection stage of reservoir targets.
JDP3 FID represents an outstanding achievement for KUFPEC in meeting its strategic objectives and assists in the realization of the KPC 2040 strategy. KUFPEC’s focus to drive operational excellence with Woodside, a key strategic partner, in solving key challenges has allowed the Joint Venture to optimize the Julimar Project and realize significant value for Kuwait.