The company said on Tuesday that Petroleum’s contribution to underlying earnings before interest and taxes (EBIT) decreased about 6% to $6 billion for the 2013 Australian financial year (ended 30 June).
Natural field decline at its conventional assets in Australia contributed to a $266 million reduction, while a series of one-time charges reduced underlying EBIT by a further $160 million. These charges included onshore US drilling rig contract termination costs as well as an impairment following the suspension of studies and re-evaluation of alternative development options for the Mad Dog phase two project.
Despite
