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Woodside’s first overseas funds

THE Ohanet gas and liquid stripping project in Algeria has begun exporting gas, giving Western Australian oil and gas player Woodside its first revenue from a non-Australian operation.

Woodside has invested $US154 million in the project in a joint venture with BHP Billiton, Japan Ohanet Oil & Gas Co Ltd and Petrofac Resources (Ohanet) LLC.

It will receive a share of condensate and liquefied petroleum gas produced for at least the next eight years.

The African facility is expected to process up to 20 million cubic metres of wet gas per day with daily exports of around 30,000 barrels of condensate and 26,000 barrels of LPG.

Woodside’s acting CEO Keith Spence said the start of exports from the project was a milestone in the growth of Woodside internationally and it provided a basis for the company to develop its African interests.

 

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