Woodside Petroleum Provides First Quarter 2018

Woodside CEO Peter Coleman said the first quarter was highlighted by Train 1 at Wheatstone LNG achieving steady production and demonstrating production rates above nameplate capacity.

“Output from Wheatstone underpinned an increase in LNG production in the first three months of this year, while revenue climbed 18% quarter-on-quarter to $1,169 million.

“Train 2 at Wheatstone is close to completion and is expected to start producing LNG this quarter. Once both LNG trains and the domestic gas facility are fully operational, Wheatstone will contribute more than 13 MMboe of annual production.

“During the quarter we announced and completed the acquisition of an additional interest in the Scarborough gas field. We also completed our successful A$2.5 billion entitlement offer, which will provide equity funding support to deliver Scarborough and SNE-Phase 1, and Browse to targeted Final Investment Decision.

“We now operate both the Scarborough offshore gas resource and Pluto LNG onshore processing facility. It is our plan to accelerate the development of Scarborough through an expansion of Pluto LNG. Concept selections for both the offshore and onshore components of the project are targeted by the end of this year,” he said.


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