Positive results for Woodside

WOODSIDE Petroleum chief Don Voelte has told the company’s AGM that several new projects, including the Chinguetti project in Mauritania, have delivered earlier-than-expected production. Mr Voelte said the Chinguetti, Enfield and Otway projects were all scheduled to deliver production earlier than flagged. “I am happy to say that these projects are collectively scheduled to deliver production for Woodside of about five million barrels of oil equivalent (Mmboe) earlier than we expected,” he said. “This is a great result; however let me caution that some of this early production has already been included in our 2006 target.” The company is aiming to produce a total of 76 Mmboe in 2006. The production target will be reviewed mid-year, but Mr Voelte said a number of cyclones in Western Australia’s north-west could have an effect. “In August, at our mid-year review, we will update our production forecast taking into account earlier Enfield production, offsetting North West Shelf production downtime due to five cyclones since the start of this year,” he said.

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