Samsung swallows contract cancellation
Australia Awarded conditionally in July 2015 by the Browse joint venture, comprising Woodside Petroleum, Shell, BP, Mitsubishi-Mitsui and PetroChina, the cancellation represents a USD 4.6 billion setback for the South Korean shipbuilder.
The FLNG vessels, each with a production capacity of between 3.5 million and 4 million tonnes of LNG per year, would have been put to work on the Browse development project offshore Western Australia. Located in 750 m of water, the three fields included in the project – Brecknock, Calliance and Torosa – are estimated to hold contingent resources of 453 million barrels of condensate and 436 bcm (15.4 tcf) of gas.
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