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Woodside Quarterly Production Slips But Eyes Wheatstone Startup

20 Juillet 2017

Woodside informed that final commissioning of the Wheatstone LNG Train 1 is well advanced and nearing completion.

Australian Woodside 2Q production stood at 20.7mn boe, about 7% lower than the production achieved in the corresponding quarter previous year due to planned and unplanned outages, mainly at Karratha gas plant and Pluto LNG. That is because of a decline in oil output and a drop in domestic natural gas as its equity stake in pipeline volumes from the North West Shelf project in Australia's west falls as planned.

Woodside chief executive Peter Coleman said the Pluto LNG project in the Pilbara achieved production records following completion of a trial created to inform decision-making on expansion options for the facility.

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Mr. Coleman added the partners in Woodside's North West Shelf LNG project were now negotiating with other owners of gas resources in the region to pipe their fuel through the Karratha plant, and were targeting preliminary agreements in early 2018.

Citigroup this week downgraded Woodside to a "Sell", citing a more hard outlook for new LNG projects.

Woodside Quarterly Production Slips But Eyes Wheatstone Startup