A $1.1 billion, three-phase development of the Thylacine and Geographe gas fields in the offshore Otway Basin has been given the green light by joint venture partners Woodside Energy Limited, Origin Energy, Benaris International and CalEnergy Gas.
The joint venturers have agreed to commence Phase 1, an $810 million investment to develop the Thylacine gas field which is 70 kilometres south of Port Campbell, Victoria in about 100 metres of water.
This will include an unmanned offshore platform at the Thylacine field, offshore and onshore pipelines and a new gas processing plant to be built next to the Iona facility six kilometres north of Port Campbell.
Planned annual production from the plant is 60 petajoules of sales gas, more than 100,000 tonnes of LPG and more than 800,000 barrels of condensate.
Geographe, located 15 kilometres north of Thylacine, will be connected to the main onshore pipeline in a later development phase.
Woodside is to be the operator of the Otway Basin project.