Woodside Downgrades 2013 Production Target

Australia's Woodside Petroleum Ltd. reported a downgrade in its 2013 production target range to 85 to 89 million barrels of oil equivalent (MMboe), compared to the previous target range of 88 to 94 MMboe.

Woodside cited two principal reasons for the revision in production target.

Firstly, there has been a temporary interruption to Pluto gas production resulting from an unplanned shutdown of the LNG processing train. While production is expected to recommence shortly, the likely impact of the shutdown is a deferral of approximately 2 MMboe, which is Woodside's share of Pluto's output.

Secondly, the scheduled refurbishment of the Vincent floating production storage and offloading (FPSO) vessel will
take longer than expected. As a result, production from the Vincent oil field is now likely to recommence in October 2013, which would result in a deferral of approximately 1 MMboe (Woodside share). The Vincent FPSO was taken to Singapore for planned shipyard maintenance in the first quarter of 2013.

Chee Yew has covered the upstream and downstream sectors of the oil and gas industry in Asia for more than 15 years. Email Chee Yew at cheeyew.cheang@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Chee Yew Cheang
APAC Editor | Rigzone
 -  Iran Likely to Grant Development of 2 ... (Aug 24)
 -  PETRONAS Minimizes Staff Redundancy to... (Aug 23)
 -  OVL Given More Time by Vietnam to Expl... (Aug 23)
 -  PETRONAS to Continue Cost Control Meas... (Aug 18)
 -  China Set to be the World's 2nd Larges... (Aug 17)


Most Popular Articles

From the Career Center
Jobs that may interest you
SR. DTA - BOP Engineering
Expertise: Subsea Engineer|Subsea Engineering|Well Control
Location: Houston
 
Staff Engineer (MN)
Expertise: Engineering Technician|Field Development
Location: Minneapolis, MN
 
Log Analyst
Expertise: Petroleum Engineering|Petrophysicist|Wireline Logging
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $49.67/BBL 1.26%
Light Crude Oil : $47.33/BBL 1.19%
Natural Gas : $2.85/MMBtu 1.78%
Updated in last 24 hours