Woodside Petroleum Updates On Pluto Supply Tanks In Australia

Published: 23-Oct-2009

Woodside Petroleum Limited (Woodside Petroleum) was informed by Apache Corporation (Apache) that Apache and Kuwait Foreign Petroleum Exploration Company (KUFPEC) were discontinuing talks on processing gas from their WA 356-P permit through the company's Pluto LNG project. This does not affect Woodside Petroleum's previous advice in relation to the company's plans for an expansion of the Pluto LNG project.

Woodside Petroleum remains in discussions with several third party gas owners in the Carnarvon basin over the potential processing of their gas through Pluto. Those discussions will continue to be based on delivering acceptable value to all parties.

Woodside Petroleum is beginning a 20-plus well Greater Pluto exploration drilling program this quarter, and expects the results of this initial campaign to substantially contribute to an expansion of the foundation Pluto LNG Project, which is now 78% complete. The company's current Carnarvon basin exploration portfolio includes 39 prospects and 35+ leads.

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