Woodside downgrades annual production forecast

7/2/2013

Woodside downgrades annual production forecast

BY ROSS KELLY

SYDNEY -- Woodside Petroleum downgraded its annual production guidance after technical glitches forced it to shut down its Pluto LNG plant.

Australia's second-biggest oil company behind BHP Billiton Ltd said it now expected output for the year to December end to range between 85 MMboe 89 MMboe. That compares with previous guidance of between 88 MMboe and 94 MMboe.

Woodside said production at the Pluto LNG plant in Western Australia State was interrupted by an unplanned shutdown of its LNG processing unit, without providing any more detail. Production at Pluto was expected to commence "shortly" Woodside said in a statement.

It also partly blamed the downgrade on delays to a planned upgrade of it's a floating oil processing vessel, Vincent, offshore Western Australia. Production at Vincent was expected to restart in October, Woodside said.

Dow Jones Newswires

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