Woodside Petroleum Limited (WPL) said its Browse Joint Venture has selected the Browse LNG Precinct at James Price Point, 60km north of Broome, as the location to process gas from the venture’s Browse Basin gas fields. The company said the decision satisfies a condition of retention imposed by the federal and state governments to select a development concept within 120 days, effective 2 December 2009. Woodside said the next phase of the development would be Basis of Design, followed by Front End Engineering and Design in 2011 to enable a Final Investment Decision by mid-2012. Woodside said the expenditure required for this material work would be $1.25 billion.