www.news.com.au
June 29, 2009
Toll Group has landed a $180 million deal to manage the supply base and logistics services for a gas project off Western Australia. Toll said today its WA-based Toll Energy division would execute the three-year contract for the $50 billion Gorgon project on Barrow Island. Toll also said its resources business continued to be a strong performer, and it planned to examine further investments and organic growth in the resources sector both in Australia and overseas.
It said its work would begin on Barrow Island once all necessary government approvals for the Gorgon project were received and following the joint venture partners' final decision to proceed, which is expected later this year. Exxon-MobilExxon-Mobil and Shell both have 25 per cent stakes in the project, which will draw gas from Australia's largest-known gas resource, the 40 trillion cubic foot Greater Gorgon fields. Most of the gas will be exported as liquefied natural gas, while a small portion is expected to be sold into the state's domestic gas market. Asian customers are lined up for most of Gorgon's LNG. First production is slated for 2015.
Chevron has so far awarded more than $1 billion of contracts for the project, including a $500 million contract to a Decmil Australia, Thiess Pty Ltd and Kentz Pty Ltd joint venture to build a 3,300 person accommodation camp for the Gorgon construction team. Chevron has operated on the island - Australia's largest onshore oilfield - for the past 40 or so years. Gorgon is Australia's biggest energy project and includes an ambitious geosequestration component. Resources sector consulting group Wood Mackenzie said in a report last month that geosequestration appeared to be "a workable long-term, albeit expensive, solution" to managing Gorgon's carbon dioxide emissions.
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