Legendre Venture Achieves First Oil

Woodside Energy Ltd., operator of the Legendre Venture, advises that initial oil production from the offshore production facility, Ocean Legend, has commenced.

The Ocean Legend is located over the Legendre North and Legendre South oil fields in Production Licence WA-20-L, about 100 kilometers north of the Burrup Peninsula and about 35 kilometers south-east of the Wanaea-Cossack oil fields.

Hook-up, testing and commissioning activities commenced on 15 January 2001 with the arrival of the Ocean Legend on site. Initial oil production was achieved on 17 May after completion of the first development well. Production is now planned to increase steadily as the remaining three wells are progressively completed.

The estimated final cost of the Legendre oil fields development remains within the forecast budget of A$110 million. The fields are expected to have a maximum production of 50,000 barrels a day and a life of between three to eight years.

The Legendre Venture is the third oil development by Woodside in Australian waters. It follows the Laminaria/Corallina development, 550 kilometers off the coast of northern Australia in the Timor Sea, and the North West Shelf Venture's Wanaea-Cossack development, 135 kilometers offshore from Karratha in north-Western Australia.

The participants and equity interests in Production Licence WA-20-L and the Legendre oil fields are Woodside Energy Ltd. (45.94%), Apache Energy (31.5%) and Santos Ltd (22.56%).