Woodside Petroleum Limited
(ASX:WPL) has been warned to stick to the terms of its operating license by the West Australian government.
West Australian premier Colin Barnett cautioned Woodside CEO Peter Coleman and joint venture partner Shell Australia to process gas from the $40 billion Browse project onshore.
Mr Barnett intervened after Shell raised the idea of using liquefied natural gas technology for the project, reminding the company’s about the conditions of retention licenses which state the gas is jointly owned by the commonwealth and the state of Western Australia.
Amid the controversy, Mr Coleman says the project remains on schedule.
Woodside generated a net profit of $801 million for the first half of its 2012 financial year.
