25/03/2008 - 11:04

Woodside's Neptune oil and gas project stalled

25/03/2008 - 11:04

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Woodside's Neptune oil and gas project has been temporarily stalled by the identification of a structural glitch which is estimated to impact the company by 0.15 million barrels of oil equivalent per month until the issue is resolved.

Woodside's Neptune oil and gas project has been temporarily stalled by the identification of a structural glitch which is estimated to impact the company by 0.15 million barrels of oil equivalent per month until the issue is resolved.

Neptune was expected to start first production by the end of this month, but BHP Billiton - the major stakeholder and operator of the project - said the schedule would be updated.

The project is expected to produce about 50,000 barrels of oil a day when it starts.


The full company announcement is pasted below:

 

Operator BHP Billiton advises that during commissioning of the Neptune oil and gas project in the Gulf of Mexico, certain hull anomalies were identified in the project's tension leg platform.

The Operator is undertaking structural inspection and analysis before advising of any required action.

Woodside's 2008 production is estimated to be impacted by 0.15 million barrels of oil equivalent per month from 1 April 2008 until the issue is resolved.

This is a Woodside-only estimate.

Woodside has a 20% interest in the Neptune project through its wholly-owned subsidiary Woodside Energy (USA) Inc.

 

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