BHP Billiton Petroleum Pty Ltd (BHP Billiton) as operator of petroleum permits WA-155-P and WA-12-R has given the green light to the development of the $2 billion Pyrenees oil project off the coast of Western Australia. The Pyrenees Development consists of five separate fields, these being, Crosby, Ravensworth, Stickle, Harrison and Moondyne. The fields are located in close proximity to each other some 25km northwest of North West Cape, in northern Western Australia. Pyrenees, which is a joint venture between BHP Billiton and United States oil producer Apache Corporation, is expected to produce about 96,000 barrels of oil per day over a 25 year period.

The A$2 billion development includes the purchase of a floating production, storage and offloading vessel and the development of 13 subsea wells tied back to the facility. The water depths across the fields range from 180 to 220m. The development is estimated to contain recoverable hydrocarbon reserves in the order of approximately 20 million m3 (125 million barrels) of crude oil at the most probable (P50) level. The project's surplus gas will be reinjected into an oil-bearing reservoir or another suitable one like the Macedon gas field, which is potentially part of Pyrenees phase two.

Japan's Modec will supply a floating production, storage and offloading (FPSO) vessel. The Pyrenees FPSO would process about 96,000 barrels of oil per day, and would be capable of lifting and reinjecting up to 60 million cubic feet of gas per day. The vessel would hold up to 850,000 barrels of oil, awaiting transfer to shuttle tankers. The FPSO will be moored in about 200 metres of water. The vessel would also be equipped with its Sofec disconnectable turret mooring system, which allows the FPSO to disconnect from wells to move out of the path of storms. Modec would convert a Suezmax tanker for the vessel, which is expected to start production in 2010.

Cameron was awarded a contract worth approximately $110 million to provide 13 subsea trees, manifolds and related equipment. Under the contract, Cameron will provide engineering and project management services, 13 wellhead and subsea tree systems, control systems, several subsea manifolds and the associated flowline connection system, chokes and related equipment. Initial equipment delivery and installation is scheduled for the fourth quarter of 2008, with additional deliveries of trees, manifolds and associated equipment to continue through 2010.

Houston-based engineering group Oceaneering International is to supply umbilicals and related equipment. The contract includes 17 miles (27 kilometres) of production-control umbilicals, which is expected  to be manufactured at its facility in Rosyth, Scotland. Work on the umbilicals would start in the first quarter of next year with delivery due in the fourth quarter.

The Seastream joint venture between UK-based Wellstream and Dutch workboat company Sea Trucks was awarded a $200 million subsea installation contract covering the supply of 60 kilometres of flexible risers and flowlines, and installation of the entire subsea system including the FPSO turret and mooring system, subsea manifolds, mid-water arches, the flowlines and risers, umbilicals with associated flying leads and the tie-ins to the pre-installed tree flow bases. The Sea Trucks DP3 pipelay/hook-up vessel Jascon 25, scheduled for delivery in April 2008, will undertake most of the offshore installation work.

The Pyrenees Development is expected to start production during the first half of calendar 2010.