Australia: Woodside Quarterly Production Climbs

LNG player Woodside of Australia said its production in the third quarter was 21.9 million barrels of oil equivalent (MMboe), up 9.5% on Q2. The company’s sales revenue for the quarter was US$1,338 million.

During the quarter the Browse Joint Venture participants agreed to progress BOD work in relation to the FLNG development concept to commercialise the Browse gas fields.

The Pluto Joint Venture participants also approved the expenditure required for Phase 1 of the Xena field tie-in project.

Subsequent to the end of the quarter, the Woodside-operated North Rankin Redevelopment Project achieved start-up as planned and on budget.

Key production and sales points

· Production volumes were 9.5% higher than the previous quarter, largely due to increased production at the North West Shelf following the completion of planned maintenance on LNG Train 2 during the second quarter.

· Production volumes were 17.4% lower than the corresponding period. Sales revenue decreased 26.8% predominantly due to:

• lower oil sales as a result of the Vincent FPSO being off station for planned shipyard maintenance;

• lower LNG sales from Pluto due to the unplanned outage at the beginning of the quarter; and

• lower condensate sales from the North West Shelf due to the timing of shipments.

· The higher proportion of gas volumes sold resulted in lower average realised prices. The average Brent price for the quarter was $109.65/bbl, slightly above the $109.42/bbl in the corresponding period.

Woodside CEO Peter Coleman said the past three months had seen milestones achieved on major projects within Woodside’s base business and growth portfolio.

These milestones further demonstrate the progress we are making on our growth strategy,” Coleman said.

At the same time, our production team continues to deliver the results that make it possible for us to take forward value-creating opportunities.”

LNG World News Staff, October 17, 2013; Image: Woodside


Share this article

Follow LNG World News


<< Sep 2019 >>
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >