FEED for Tassie Shoal Methanol Project Awarded to Worley-Kvaerner Joint Venture

abarrelfullabarrelfull wrote on 29 Mar 2012 11:19

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Methanol Australia Limited announced in a recent press release that it has appointed the Offshore Methanol Joint Venture, a 50:50 joint venture between Worley Pty Ltd and AkerKvaerner, to provide Front End Engineering Design (FEED) services for its Tassie Shoal Methanol Project.

The Tassie Shoal project is located in an area of shallow water, just south of the giant Evans Shoal gasfield, 275 km northwest of Darwin. The project is scheduled to commence production of 5,000 tpd of methanol from late 2006, with a second phase intended to ultimately boost production to 10,000 tpd for export to consumers throughout Asia.

Davy Process Technology (DPT), now owned by the independent Russian corporation Yukos Oil, will provide the basic engineering for a major part of the process plant based on its compact reformer and advanced methanol conversion technologies. The Offshore Methanol Joint Venture will be responsible for overall coordination of the substructure and topsides layout design, and for the design of the utility, loadout and accommodation facilities. The Joint Venture’s role will also include provision of overall project design philosophy documentation and compilation of the cost estimate.

The formation of the Offshore Methanol Joint Venture is a reflection of the successful operation of the existing Magnesium Joint Venture formed for the Stanwell Magnesium Project. The proven relationship between Worley and Kvaerner, and the many advantages presented to the project resulting from the combined strength of the two companies, has allowed Methanol Australia to proceed with the award of the FEED on a negotiated basis.

The FEED is expected to commence later this year on finalisation of project equity financing arrangements.

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