Woodside reports Australia, Myanmar finds

Australia

PERTH, July 19, 2018 – Woodside Petroleum has struck gas offshore Myanmar and Australia, the Perth-based company announced in its Q2 report on Thursday.

The Aung Siddhi-1 exploration well in the AD-1 licence offshore Myanmar encountered 26 metres of net gas deposits in two separate targets, while the WA-404-P well off Western Australia hit 69 metres of gross gas pay. Evaluation of the latter discovery continues while data from two other wells offshore Myanmar is expected in the near future.

Q2 revenue stood at USD 1.15 billion, up about 24% year-on-year, but down about 8% since the first quarter, the report added. In a statement, company CEO Peter Coleman also noted several milestones achieved.

“Since starting up in June, Wheatstone Train 2 has achieved high production rates, building on the continuing operational success at Train 1,” said Coleman. “Pluto LNG again turned in an outstanding result for the quarter, achieving 100% reliability and an annualised production rate of 5.2 million tonnes per annum.”