Oil and Gas News

Woodside overcomes challenges to reach production record

Woodside has hit new production heights despite facing unprecedented challenges during the June quarter and having to manage the impact of Tropical Cyclone Damien in Western Australia.

The company recorded a 7 per cent production increase compared with the previous quarter with 25.9 MMboe (million barrels of oil equivalent), a new record.

In the previous quarter, Woodside posted 24.2 MMboe, while in the corresponding period of the last financial year it had 17.3 MMboe.

As part of Woodside’s 2020 expenditure reduction, the company is now targeting a final investment decision (FID) in 2021 for the Scarborough and Pluto Train 2 projects, with the 2020 work plan being agreed on by engineering, procurement and construction contractors and commercial negotiations under way.

Following the acceptance of the Scarborough offshore project proposal, Woodside has commenced development of its associated environment plans.

At the company’s Browse project, applications were submitted in April 2020 to the Commonwealth and state regulators for production licenses for the Calliance and Torosa fields and a retention lease renewal in relation Brecknock. Woodside is targeting FIDs at Browse from 2023.

Woodside chief executive officer Peter Coleman said Woodside’s commitment to the Burrup Hub is unwavering and working in continuing to finalise commercial agreements and regulatory approvals for the Scarborough, Pluto Train 2 and Browse developments.

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