Australian oil and gas exploration and production company Woodside announced that its 2013 production target range has been revised to 85 to 89 million barrels of oil equivalent (MMboe). The previous target range was 88 to 94 MMboe.
There are two principal reasons for the change.
Firstly, there has been a temporary interruption to Pluto production resulting from an unplanned shutdown of the LNG processing train. It is expected production will recommence shortly. The likely impact is a deferral of approximately 2 MMboe (Woodside share).
Secondly, the scheduled refurbishment of the Vincent floating production storage and offloading vessel will take longer than expected. Production is now anticipated to recommence in October 2013, which would result in a deferral of approximately 1 MMboe (Woodside share).
[mappress]
Press Release, July 3, 2013