Ichthys LNG is a standout oil and gas project, poised to produce 9.3 million tonnes of LNG, 1.65 million tonnes of LPG, and over 100,000 barrels of condensate annually. Recognized for its comprehensive approach, this project encompasses subsea, offshore, pipeline, and onshore components. The gas and condensate from the Ichthys Field traverse an impressive 890-kilometer pipeline to reach onshore facilities near Darwin for processing. This multifaceted undertaking exemplifies the pinnacle of energy development.
While production commenced in 2018 and is anticipated to span over 30 years, Inpex took the proactive step of incorporating decommissioning costs into the project's early stages. This entails more than mere budgetary planning; it necessitates the meticulous development of a comprehensive, costed plan that aligns with today's financial landscape. This forward-thinking approach ensures preparedness for future decommissioning expenses.
Selected for our comprehensive decommissioning expertise, RESL's proficiency spans subsea systems, maritime vessels, master LNG plants, and pipelines. Our proposal, notable for its clarity and detail, reflected a singular vision across the project's five distinct facets, demonstrating the depth and breadth of our experience. Our proposal stood out for its clarity and comprehensive detail. Our extensive, specialized experience played a pivotal role in our selection.
The scope of our study encompassed an exhaustive cost estimate
for decommissioning the Ichthys project, including the Central
Processing Facility, Floating Production Storage Offloading unit,
subsea systems, Gas Export Pipeline, onshore LNG plant, and
Our approach involved a meticulous verification of decommissioning data, an in-depth review of pertinent laws and regulations, and the establishment of a solid basis of estimate. We also undertook detailed decommissioning engineering and planning to formulate an AACE Class 5 cost estimate. This report consolidates all aspects of our comprehensive analysis, presenting a defensible and well-substantiated decommissioning cost forecast.
Our report meticulously reviews laws and regulations, establishes
a basis of estimate, and projects costs for the decommissioning of
the Ichthys LNG Project. It details well abandonment, the
dismantling of Ichthys Explorer CPF, Venturer FPSO, subsea
facilities, the Gas Export Pipeline, and the onshore plant. This
inclusive document assesses constraints, limitations, assumptions,
risks, and opportunities, leading to a comprehensive cost
Moreover, we explored future factors affecting decommissioning, offering a process for continuous evaluation and cost control, consistent with AACE standards and industry benchmarks. Completed in record time and endorsed by the client, this report paves the way for ongoing collaboration on subsequent projects.