Australian player Woodside Petroleum is targeting overall production of about 100 million barrels of oil equivalent per annum by 2020, encouraged by expected strong demand for liquefied natural gas, writes Josh Lewis.
Woodside had earlier this year forecast production for 2018 to total between 85 million and 90 million boe.
However, chief executive Peter Coleman said current market conditions supported the company’s more ambitious plans, stating that demand growth for liquefied natural gas had been higher than most forecasters had anticipated while there had been a lack of investment in new production over recent years.
