Woodside Petroleum Limited
(ASX:WPL) has announced that it has started production at its Okha floating vessel off Western Australia.
The project is expected to produce 30,000 barrels of oil a day by the end of October and first offtake is due in November.
As a one-third owner Woodside has poured around $600 million into the North West Shelf Oil Redevelopment Project, from a total $1.8 billion investment.
The company's 2011 production target remains between 62 and 64 million barrels of oil equivalent.
Woodside Petroleum posted a net profit of $772 million in the first half of the 2011 financial year.
