Woodside Petroleum, BHP Billiton and its other joint venture partners on the Browse gas project in Western Australia have been issued with a deadline from the WA Department of Mines and Petroleum.
Federal government legislation that aims to ensure valuable oil and gas resources are developed has been used to give an April deadline to the Browse gas project partners including BP, Chevron, Shell and Japan Australia LNG who will need to work towards a final investment decision in the third year of the renewed lease period.
Woodside chief executive Don Voelte last week said that one of the project participants was close to making a decision.
Woodside Petroleum reported a strong 2008 net profit result while BHP Billiton had a strong net profit history until 2009 when net profit dipped.
