MOST of Australia's major offshore operators are focused on the safe and stable production of their existing fields with very little new greenfield investment planned in the near term. Woodside and Santos are the exceptions. Santos this year sanctioned the US$3.6 billion Barossa gas project, and Woodside hopes to follow suit later this year with the Scarborough and Pluto Train 2 investments. Santos is also committed to a final investment decision in the first half next year on the US$2 billion Dorado oil project. Woodside is wrapping up some smaller subsea projects - Greater Western Flank Ⅲ, Pyxis Hub and Julimar-Brunello phase two -after which it needs to fill the gap with Scarborough and Pluto Train 2. Woodside will be in a serious spot of bother if Scarborough and Pluto Train 2 do not proceed, as it has no back-up projects apart from Sangomar, in Senegal, and the challenged Browse and Myanmar A-6 projects.
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