Woodside's Sales Revenue Reaches $1.69B in 2Q 2014, Up 24.8% YOY

Australia's Woodside Petroleum Ltd.'s sales revenue reached $1.679 billion in the second quarter of 2014 (2Q 2014), up 24.8 percent from the previous year, with the increase due to additional oil volumes sold primarily from the Vincent field and higher realized prices for Pluto liquefied natural gas (LNG) volumes sold in the period, the company said in its latest quarterly report.

Production volumes grew 17.5 percent to 23.5 million barrels of oil equivalent (MMboe), while sales volume rose 6.4 percent to 21.5 MMboe, with the firm citing more reliable production from Pluto LNG and the re-start of Vincent floating production, storage and offloading (FPSO) for the increase.

Turning to development projects, Woodside is progressing work on the basis of design (BOD) for the Browse floating LNG (FLNG) project offshore Western Australia. When completed, the BOD will enable the Browse Joint Venture participants to consider entering the front-end engineering and design (FEED) phase of the Development as planned in 2H 2014.

Over in the North West Shelf (NWS), Woodside continues with FEED activities for the Persephone gas development with a Final Investment Decision planned for 2H 2014. The project involves a subsea tieback to the North Rankin Complex.

Meantime, fabrication and pipeline installation for the Greater Western Flank Phase 1 Project in the NWS was completed during the quarter. Subsea subsea installation is expected for completion by 4Q 2014, with the project on budget and on track to start-up in early 2016.

Have a news tip? Share it with Rigzone!


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

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Aberdeen Firm to Hire More Staff in 20... (Mar 30)
 -  CGG, KGOC Teams to Work Together on In... (Mar 30)
 -  Aker Solutions Reduces Total Headcount... (Mar 30)
 -  First Workers Complete New Industry Tr... (Mar 29)
 -  Mexico, UK Strengthen Ties with 5-Day ... (Mar 29)

Most Popular Articles

From the Career Center
Jobs that may interest you
Field Project Assistant
Expertise: Project Management
Location: Midland, TX
Tax Specialist Required for Global Service Company in Houston
Expertise: Accounting
Location: Houston, TX
Administrator / Office Supervisor
Expertise: Accounting
Location: Sugar Land
search for more jobs

Brent Crude Oil : $52.42/BBL 2.12%
Light Crude Oil : $49.51/BBL 2.35%
Natural Gas : $3.17/MMBtu 2.25%
Updated in last 24 hours