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BHP and ExxonMobil Move Toward Scarborough Field Decision
Oct. 11, 2012 10:24AM PST
Oil and Gas Investing
The Sydney Morning Herald reported that BHP Billiton Ltd. (ASX:BHP) and ExxonMobil Corp. (NYSE:XOM) may make a decision on how to develop Western Australia’s Scarborough gas field in less than a year. The field contains an estimated 10 trillion cubic feet of gas, but its appeal has been mitigated by the fact that it is located in remote, rough seas.
The Sydney Morning Herald reported that BHP Billiton Ltd. (ASX:BHP) and ExxonMobil Corp. (NYSE:XOM) may make a decision on how to develop Western Australia’s Scarborough gas field in less than a year. The field contains an estimated 10 trillion cubic feet of gas, but its appeal has been mitigated by the fact that it is located in remote, rough seas.
As quoted in the market news:
The two companies appear to have hastened work around the Scarborough field in recent times, with Exxon yesterday putting a development schedule on the project for the first time.
“The challenge on Scarborough is finding a concept that is economically viable given the challenging nature of the resource. We are doing evaluations on a number of different concepts including a floating platform,” Mr Dashwood said.
Click here to read the full report from The Sydney Morning Herald.