PERTH (miningweekly.com) – ASX-listed Woodside Petroleum has reported a 44% increase in production volumes for the three months to September, compared with the previous quarter, with sales revenue up by 58% over the same period.
Woodside on Thursday reported that production levels for the September quarter had reached 24.9-million barrels of oil equivalent, with the increased production driven by record production at the Pluto liquefied natural gas (LNG) project, and first production at the Greater Enfield project.
Sales revenue for the September quarter reached A$1.16-billion, up 58% on the previous quarter, with more than 23.2-million barrels of oil equivalent sold during the quarter up from the 16.98-million barrels of oil equivalent sold during the June quarter.
“Pluto LNG is performing strongly and demonstrating outstanding reliability following the turnaround. We are also achieving pleasing performance from the Ngujima-Yin floating production and storage facility (FPSO) following the completion of the Greater Enfield project, with over 2.5-million barrels of oil produced from the facility since the restart,” said Woodside CEO Peter Coleman.
He noted that both the Pluto LNG and the Greater Enfield project would be key contributors to the 2020 production target of 100-million barrels of oil equivalent.
“Our major growth projects are progressing well towards key decision points. For the SNE development in Senegal, we are completing internal technical, cost and schedule reviews ahead of a targeted final investment decision before the end of the year.
“We have taken a final investment decision for the Pyxis Hub project, comprising the subsea tieback of the Pyxis, Pluto North and Xena 2 infill wells, with key contracts awarded to support design and installation of subsea equipment infrastructure. Development of the Pyxis Hub will support the future operation of Pluto LNG, the Pluto-North West Shelf interconnector and the broader Burrup Hub vision,” said Coleman.
“The technical work for Scarborough continuesas planned in support of final investment decision targeted for the first half of 2020. We are progressing the negotiation for the Browse gas processing agreement and the Browse joint venture remains aligned on being ready to commence front-end engineering and design in the fourth quarter of 2019.”