Woodside Petroleum Ltd
(ASX:WPL) has halted production at oil fields off the Western Australian coast because gale force winds on Saturday showed signs of developing into a cyclone.
Woodside says it has suspended production at its three oil fields – Vincent and Enfield oil fields off the coast of Exmouth, and the Cossack Pioneer on the North West Shelf in response to the tropical low off the Pilbara coast.
The company is not sure how long production will be suspended for but says it will continue to monitor the low.
For the year ended 30 June 2010, Woodside reported a net profit of $1 billion.
