abce certificate
New Articles
Friday, 05 December, 2008, 17:20 GMT | more >>

Woodside to keep Pluto for itself



By Upstream staff 

Australia's Woodside Petroleum said it had received approaches from parties keen to partner it in the Pluto liquefied natural gas project, but intends to maintain 100% control of the development.

"Many people have contacted us, a lot of people have offered trades of one type or another, swaps, but we're pretty happy at this point to go alone," chief executive Don Voelte told CNBC Asia.

Woodside has said the development of the Pluto gas field off the northwest coast of Western Australia could cost up to A$10 billion (US$8.47 billion), with a final investment decision on the project expected in August.

The field is estimated to contain 4.1 trillion cubic feet of gas with the adjacent Xena discovery estimated to hold a further 0.4 Tcf.

Woodside already has agreements in place to supply two Japanese customers with up to 3.75 million metric tonnes of LNG a year from Pluto from late 2010.

Voelte declined to comment on reports that Woodside's 34.3% shareholder Royal Dutch Shell has been looking at the possibility of a fresh takeover bid for the Perth-based oil and gas producer.

"I think one of the reasons a lot of companies are always speculated to be looking at Woodside is that we have a tremendous portfolio of assets," he said.


Tuesday, 26 June, 2007, 02:11 GMT  | last updated: Tuesday, 26 June, 2007, 03:04 GMT

e-mail this article to a colleague


to email:  from:
comments: