There are currently $113 billion worth of resource projects in the pipeline for Western Australia with many experts believing another growth period is now upon us. According to data from the government of Western Australia, the state’s mineral and petroleum industry reported record sales of $127.4 billion last year, a record-setting amount.
Several multi-billion dollar projects are now either awaiting permits, approved or underway, kicking off what looks to be another resources construction boom period bringing both jobs and money to the region. This also creates a need for projects in the housing and retail sectors driving further demand for construction. With this in mind, here is a peek inside Western Australia’s project pipeline.
Gorgon Stage Two
Developer:Chevron and other JV partners
Cost:Est. $5 billion
The massive joint venture between Chevron (47.3%), ExxonMobil (25%), Shell (25%), Osaka Gas (1.25%), Tokyo Gas (1%) and JERA (0.417%) is expanding to help modernise current subsea facilities while also drilling additional infill wells. The project is located 150 kilometres off the WA coast and is already one of the largest LNG developments in the world. Enough LNG to power 2.5 million households is sent from Gorgon to Western Australia daily.
Belmont Park redevelopment
The Belmont Park redevelopment is one of the biggest construction projects ever seen in Perth and will create 4500 residential apartments along with significant retail, office and hospitality space spread across multiple towers. The first residential tower, Belmont Park on Burswood Peninsula, is expected to be completed in 2020. The Belmont Park redevelopment is part of a 20-year plan.
Type:Iron ore mining
Rio Tinto swiftly approved the Koodaideri mine a few months after BHP announced it had greenlighted a massive iron ore operation in WA. The Koodaideri orebody is 50 kilometres long and five kilometres wide. Rio Tinto officials have already stated the project will be a production hub that will be a key feature in the Pilbara region for the foreseeable future. The project is expected to be operational in 2021 and is predicted to have a mine life lasting until 2034.
South Flank mine
Type:Iron ore mining
Once opened, the previously mentioned BHP South Flank mine is slated to become one of the world’s largest iron ore operations. Wheels are already in motion with several contracts for the Pilbara mine already awarded. South Flank is scheduled to be operational in 2021 and will incorporate several technological advancements including the use of autonomous drill rigs.
Type:Iron ore mining
The much talked about Balla Balla mine project remains in limbo. It is one of the largest mining operations in Western Australia’s project pipeline, and there is some hope that the New Zealand-based Todd Corporation, the project’s majority owners, will get things started in 2019. The facility would have a minimum mine life of 16 years at 5mpta annually. The Balla Balla iron ore deposit extends over 18.3 kilometres. In addition to the mine, significant investment needs to be made in the surrounding infrastructure including the creation of an integrated port and rail links throughout Central and Western Pilbara. Initial estimates noted the project could create up to 3300 construction jobs and 910 operational positions.
Greater Enfield Development
Work on the Greater Enfield Development should be finished in the coming months. The oil field is situated roughly 60 kilometres away from Exmouth in WA. The project was approved in 2016 with estimates showing oil reserves of 69 million barrels in the fields. The project features six subsea production wells. There will also be six water injection wells integrating with a subsea multi-phase booster pump that feeds into a floating production storage and offloading vessel located in another facility some 30 kilometres away.
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