Offshore staff

PERTH, Western Australia -- Woodside Petroleum Ltd.'s Pluto LNG development has been granted ministerial consent under the Western Australian Aboriginal Heritage Act for its LNG plant on site B, while preparation for the LNG tanks on Site A is under way.

Front-end engineering and design for the onshore and offshore facilities remain on schedule to be completed in mid-2007, according to a Woodside financial report for the first quarter ended March 31, 2007.

Commitments to long lead items, including a pipelay vessel, pre-assembled unit fabrication, and LNG tank fabrication, are progressing consistent with the board funding approval of A$1.4 billion ($1.17 billion) in December 2006.

The Pluto-6 well will be drilled in Q2 2007 to optimize development well locations and design, the company says, noting the project is progressing to plan and is on track to allow a final investment decision in mid-2007. First LNG delivery to Tokyo Gas and Kansai Electric is expected by the end of 2010.

Among other projects, Woodside says its Perseus over Goodwyn Project is progressing toward a Q3 2007 startup. Subsea installation activities are well advanced with completion expected in Q2 2007.

The Angel project is on schedule for a Q4 2008 startup. Drilling activities are progressing and work is continuing on jacket fabrication in China and topsides fabrication in Malaysia.

Otway Gas project execution is advanced, with offshore activities complete and the onshore plant mechanically complete with pre-commissioning activities under way. Gas commissioning will be introduced in early June, and sales gas will follow once commissioning is complete, Woodside says.

The Stybarrow oil project is on schedule for an early 2008 project startup. Drilling continues and installation of the mooring system has begun. The Stybarrow FPSO is in a Singapore shipyard where topsides and turret are being installed.

Finally, the Vincent Oil project is progressing toward a Q3 2008 startup. Fabrication of topsides facilities are being carried out in Thailand, and the FPSOEllen Maersk has arrived at the Singapore shipyard. Fabrication of subsea equipment is on schedule, the company says.

4/19/2007