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Pluto gas project faces cost blow out

Woodside Petroleum's credit ratings are under pressure after the oil and gas producer said costs at its Pluto LNG project had blown out by up to 10 per cent.

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UK
Hi, your statement .... "If it remains on schedule, Pluto will become the fastest developed LNG project in Australia, from its discovery in 2005 to first gas." .... does not truly reflect the very impressive achievement that awaits Woodside and its contractors when the plant comes on-stream. I believe the fastest gas find to LNG production for a world-scale LNG plant was in the middle east ... about 11.5 years. Pluto will probably halve this "world record" ... the average for the worldwide industry is nearer 20! rgds

Perth Western Australia
I wouldn't exactly call call a project that was delivered more than a year behind schedule and close to $5 billion blowout in a $10 billion project an 'impressive achievement' I am also unsure about a $10 billion project that is given the go-ahead without enough gas in the ground

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BN30 Index

Index = 100 as of 4 Jan 2016
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Total Shareholder Return as at 31/10/18

1 year TSR5 year TSR
216thWoodside Petroleum19%3%
243rdSouth3213%0%
398thFortescue Metals Group-9%-0%
423rdIluka Resources-11%-3%
441stMineral Resources-15%9%
744 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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Total value as at the date of the transaction
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Revenue

1st↑South32$10,519.6m
2nd↓Fortescue Metals Group$9,358.7m
3rd-Woodside Petroleum$5,050.0m
4th-Mineral Resources$1,706.7m
5th↑Iluka Resources$1,079.2m
512 listed resources companies ranked by revenue.
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