Woodside NEWS

Leading UK energy services company Wood Group’s share price plummeted dramatically on Monday following its announcement that a takeover offer by Apollo Management Holdings will not proceed.

Woodside Energy chief executive Meg O’Neill has slammed extremists who are doing the damnedest to scupper under development and new gas projects in Australia, the region’s largest liquefied natural gas exporter.

The country's biggest independent gas producer said it had reviewed the methodology it follows to calculate depreciation of its oil and gas properties, after taking into account the scale of its portfolio since acquiring BHP Group's petroleum assets. It now plans to depreciate oil and conventional gas assets based on proven reserves, instead of the prior method where proven and probable reserves were both considered.

Following a shareholder vote yesterday, Australian liquefied natural gas (LNG) developer Woodside Petroleum (ASX:WPL) will change its name to Woodside Energy Group as it prepares to embrace the energy transition.

Cairn has signed an agreement to sell its entire Senegalese stake to Woodside Energy. Cairn at first was planning to sell its 40% of the Senegalese stake to Lukoil in a deal worth up to $400m, but Woodside had exercised its right to pre-empt the transaction on the same terms and conditions. Woodside Energy will hold a 68.3% stake in the main Sangomar deepwater project and a 75% stake in the remaining areas.

EPC giant, TechnipFMC has been awarded an integrated engineering, procurement, construction and installation (iEPCI) contract by Woodside. The scope of the contract includes the development of the Lambert Deep field and Phase 3 of the Greater Western Flank fields. The contract will require TechnipFMC to carry out the design, manufacture, delivery and installation of subsea equipment, including a subsea production system (SPS).

Woodside will delay the final approval date for its mega Browse gas project. Also, the company has decided to bring in the plans to sign off on its smaller Scarborough project. Woodside is focusing on the final investment decision on the $20.5 billion Browse project in the first half of 2021. In early 2020, it will sign off on the $11 billion Scarborough gas project and Pluto LNG expansion.

Oilfield services giant, Halliburton has secured nine conditional contracts for drilling and completion services pertaining to SNE Field Development Phase 1 offshore Senegal. Awarded by Australian energy giant, Woodside, the contracts granted include services such as drilling, logging, cementing, lower completions, e-line/slick line, coiled tubing and well testing. Phase 1 for the SNE field covers a stand-alone FPSO facility, aided with subsea infrastructure.

Australia’s largest independent oil and gas company, Woodside has inked a Heads of Agreement (HOA) with China-based ENN Group. The agreement requires Woodside to supply 1 million tpy of LNG from its portfolio for a 10-year duration, starting in 2025. The agreement which was signed during the LNG 2019 conference in Shanghai, comes on the backdrop of the cooperation agreement signed in October 2018.

Japanese offshore floating platform supplier, MODEC International has secured the FEED contract for Woodside Energy’s SNE Field Development Phase 1 floating production storage and offloading (FPSO) facility. The total capacity of the FPSO is estimated to be 100,000 bbl/day, with first oil expected in 2022. The design of FPSO will be carried out in a way that it allows the integration of subsequent SNE development phases.

Australia-based Sheffield Resources has contracted the joint venture between Woodside and Energy Developments (EDL) to supply LNG to the Thunderbird mineral sands project. According to the 15-year deal, the JV will deliver 1950 terajoules of LNG annually to the project. LNG will be supplied from Woodside’s Pluto facility through a road tanker fleet. The Thunderbird project has a mine life of 42 years, and production will begin in 2020.

Australian oil and gas giant, Woodside has reported a significant jump in its 4Q18 earnings. Woodside generated AUS$1419 million in sales revenue, marking a 43% surge from 4Q2017. The fourth quarter seemed very fruitful for Woodside, where not only its production jumped by 10%, but it also achieved 99.7% reliability at Pluto LNG. Additionally, the production from Wheatstone LNG Train 1 and Train 2 continued to exceed expectations.

Australian oil and gas major, Woodside yesterday informed about awarding four contracts related to FEED activities for the Scarborough Project offshore Western Australia. Woodside awarded the separate contracts to McDermott Australia, Subsea Integration Alliance, Saipem Australia and Intecsea. In the initial phase, Woodside will fund each awarded contract, without any financial support from BHP, which has 25% interest in the joint venture. Scarborough Project is estimated to cost US$11 billion.

Australian energy major, Woodside Energy has informed about the successful commission of the Pluto domestic gas pipeline. Woodside used the Pluto pipeline by delivering first gas to the 1600 kms-long Dampier to Bunbury Natural Gas Pipeline (DBNGP) in Western Australia. The Pluto gas pipeline will add to Woodside’s domestic gas supply portfolio.

Woodside Petroleum Ltd informed that it has inked a 20-year gas sale and purchase agreement (SPA) with Perdaman Chemicals and Fertilisers Pty Ltd. The agreement will lead to the pipeline supply of 125 TJ of gas per day for use in Perdaman’s proposed urea plant. Woodside will source the gas to Perdaman from its proposed Scarborough development.

Australian oil firm, Woodside has named Bechtel as the execution contractor for the Pluto LNG facility expansion project. Woodside is looking forward to the brownfield expansion of the Pluto LNG facility. This will include the large undeveloped gas resource from the Scarborough gas field. Woodside and Bechtel worked closely on the preparation of the contract for the FEED phase of the train 2, including finalising the concept and costs.

Australia's largest E&P Company, Woodside Petroleum Ltd reported a 6% rise in its half-year earnings backed by the effective performance of company’s Wheatstone and Pluto LNG projects. In the present financial year, i.e. 2018, the company expects the production to lie between 87 mmboe to 91 mmboe. Furthermore, the Wheatstone project is likely to add approximately 13 million barrels of oil equivalent to the annual output after becoming fully operational.

Australian E&P giant has updated on the newly commenced second LNG train at the Wheatstone LNG plant in Australia. The company reported the production of 22.1 MMboe in the second quarter. The Wheatstone Train 2, which began operation at the Chevron-run plant last month, has reportedly achieved high production rates. Woodside reported over $1 billion in sales revenue recently.