Woodside takes rosy view
Woodside Petroleum says its LNG estimates for 2018 are up significantly on 2017 actual figures.
Woodside’s fourth quarter report says that while the company’s overall production levels did not lift by much, LNG production will ramp up.
Woodside produced 61.7 million barrels of oil equivalent in 2017, but its 2018 guidance is for 69 to 71 million.
The report also say full year guidance across Woodside’s portfolio will be for a modest increase from 84.4 million barrels of oil equivalent in 2017 to between 85 and 90 million for 2018.
The company says it achieved record fourth quarter production at the onshore Pluto LNG gas field near Karratha in Western Australia, up 1.6 million barrels of oil equivalent from third quarter results, and 0.4 million from results in the fourth quarter of 2016.
Woodside says its Wheatstone LNG project will see train two LNG production to start the second quarter of 2018.