Photo by: Bloomberg
PERTH (miningweekly.com) – ASX-listed Woodside Energy has set a production target of 180-million to 190-million barrels of oil equivalent for the 2023 financial year, with liquefied natural gas (LNG) production to make up between 83-million and 85-million barrels of oil equivalent.
The company said on Tuesday that it expected between 20% to 25% of its LNG production for 2023 to be sold at prices linked to gas hub indices.
Meanwhile, capital expenditure for 2023 has been set at between $6-billion and $6.5-billion, assuming no change in current participating interests, with some 20% of the capital investment to go towards the Sangomar development, 50% to the Scarborough project, a further 15% to the Gulf of Mexico and the Caribbean, and a further 15% to its remaining operations, including Australia, and on corporate expenditure.
Woodside on Tuesday reported that the construction phase for the floating production storage and offloading (FPSO) unit for the Sangomar Field Development Phase 1 has been completed, and the facility will be deployed at the field offshore Senegal.
The Sangomar Field Development Phase 1 is currently around 70% complete and will be Senegal’s first offshore oil project. The development includes the FPSO, 23 wells and supporting subsea infrastructure, designed to allow the tie-in of subsequent phases
First oil from the project is being targeted for late 2023, and production from the project has not been included in Woodside’s guidance.
Additionally, Mad Dog Phase 2 is also undergoing commissioning and Woodside has readied for a production startup in mid-2023.