Oil giant Woodside Petroleum Ltd
(ASX:WPL) says it expects stronger production in the second half of 2009.
The company reported a 10 per cent increase in production to 40.1 million barrels of oil equivalent in the first half of 2009 compared to the first half of 2008.
Woodside says additional contributions from the Enfield Silver South block and the Corallina - 2 sidetrack - 2, plus a full second-half production from North West Shelf Train 5 and Vincent operation will boost its second half output result.
Consequently Woodside’s 2009 production target of 81 to 86 million barrels of oil equivalent is unchanged.
And in other news the Australian Financial Review reports that the company has also signed an agreement with the West Australian Government to accelerate plans for a liquefied natural gas precinct, north of Broome in W.A.
The paper says Woodside wants to treat gas from its Browse joint venture at the site.
Woodside Petroleum’s 2008 net profit was $1.786 billion.
