Woodside CEO Peter Coleman
Photo by: Bloomberg
PERTH (miningweekly.com) – Oil and gas major Woodside has told investors that the company will generate increased cash flows and returns from its existing business and committed projects, focusing on low-cost brownfield developments.
“Our portfolio offers exciting prospects for growing shareholder value that will coincide with rising global demand for gas and an anticipated supply shortfall,” said CEO Peter Coleman.
“In particular, Woodside is well positioned to capitalise on an expected increase in demand from emerging Asian markets.”
Coleman added that Woodside had taken advantage of market conditions to strategically build its portfolio with a view to grow production by attracting resources to existing facilities on the planned Burrup Hub.
“At a time when large greenfiled projects are challenging, Woodside is preparing to capture new value from low-cost brownfield developments,” he said.
“In the near term, we expect to generate increasing cash flow and returns from our existing business and committed projects, and we see further upside potential from lower capital intensity and quicker-to-market opportunities.”
Coleman recently revealed that the company was investigating the potential to incorporate its Browse liquefied natural gas project in the North West Shelf project, using existing infrastructure to bring the gas to market.