Offshore staff

(Perth, Australia) -- Woodside Petroleum Ltd. plans to drill the first four offshore wells in late 2006/early 2007 in Libya, depending on drill rig schedules.

"Target sizes for our offshore wells are in the 100's of million barrel range. It is likely that at various stages of our sizeable Libyan drilling campaign," said Agu Kantsler, director for exploration and new ventures.

Woodside identified several large structures in preliminary stages of interpretation of an offshore seismic program involving 7,740 km of 2D and 1,690 sq km of 3D data.

Woodside has four offshore blocks under the first bidding round of Exploration Production Sharing Agreement IV in 2005. The offshore joint venture consists of Woodside (operator) with 55%, Occidental with 35%, and Liwa Energy of Abu Dhabi with 10%.

Woodside was also busy on onshore blocks in Libya, having shot 2D and 3D seismic as well as committed to drill 13 wells, said Kantsler.

7/14/06