Woodside oil projects on track

Offshore staff

PERTH, Australia – Woodside Petroleum has issued an update on its current development projects offshore Australasia.

Commissioning continues on the North Rankin B (NRB) jacket in Indonesia and the topsides in South Korea for the North Rankin redevelopment project.

A transport barge has arrived in Indonesia, with load-out of the NRB jacket expected to be completed during the current quarter. Modifications on North Rankin A for process tie-ins and the south bridge-link are progressing as planned. Overall, the project is on schedule for completion in 2013.

The FPSO Okha for the North West Shelf oil redevelopment project completed in-shore commissioning and sea trials offshore Singapore last month, before starting its voyage to the field.

Subsea refurbishment has been delayed by bad weather and mechanical breakdown of the primary installation vessel, but the Okha should still deliver first oil in October.

Elsewhere, exploration drilling at Xeres-1 in WA-34-L (Pluto expansion) brought a gas discovery, although the full appraisal scope could not be completed in 2Q 20121 due to technical difficulties. A decision on appraisal testing has been deferred until later this year.

Woodside plans to drill the Kelt-1 exploration well and the Noblige-2 appraisal well later this quarter. Discussions continue with third parties concerning potential processing of Carnarvon basin gas via additional LNG trains at Pluto.

07/19/2011



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