Woodside hits record production in 2013
PERTH (miningweekly.com) – ASX-listed energy major Woodside Petroleum has reported record production for the year ended December, with output reaching 87-million barrels of oil equivalent
This was a 2.5% increase on the production levels achieved in 2012.
Production for the three months to December was also up 5.9% on the third quarter, reaching 23.2-million barrels of oil equivalent, Woodside said on Thursday.
The higher output was attributed largely to increased production at the Pluto liquefied natural gas (LNG) plant, following the restart of the LNG train and the change-out of dehydrator beds during the third quarter of this year.
During the quarter, Woodside sold about 23-million barrels of oil equivalent product, which is an increase on the 20.9-million barrels sold in the third quarter of the year, to generate a revenue of more than $1.6-billion.
Revenue for the quarter was 6.7% lower than the previous corresponding period, with the impact of the reduced sales volumes being partially offset by the one-off price adjustment for the Pluto LNG project.
For the full year, Woodside sold some 85.7-million barrels of oil equivalent product, generating a revenue of more than $5.7-billion.
For 2014, Woodside was expecting to produce between 86-million and 93-million barrels of oil equivalent, comprising a product split of around 39% from the Pluto LNG plant, 23% from the North West Shelf LNG project, 14% from the North West Shelf domestic gas project, and 24% from condensate, oil and liquefied petroleum gas.
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