Australian energy major Woodside has reported revenue of $3.08 billion in the second quarter, down 29% compared to the first quarter of 2023 due to lower realized prices and production.
“The strong underlying operating performance in the second quarter was impacted by planned maintenance and maintenance activities, particularly at the onshore Pluto LNG facility and associated offshore facilities in Western Australia,” Woodside CEO Meg O’Neill said.
However, it noted that while production and sales were lower compared to the first quarter of 2023, they were higher than the corresponding period last year, reflecting the expansion of Woodside’s operations.
Production declined five percent compared to the previous quarter to 44.5 million barrels of oil equivalent (Mmboe).
However, the company kept its full-year production guidance unchanged at 180-190 Mbp.
Sales volume was 48.4 million boe, down 4% from the first quarter of 2023.
The company said it has moved toward final investment decisions for a couple of projects.
“We have also taken a significant step towards value-adding investment in future growth by making a final investment decision to develop the Trion oil field offshore Mexico, subject to regulatory approval of the field development plan expected in the fourth quarter of this year,” O’Neill said.
The company said the final investment decision was made for the Julimar-Brunello Phase 3 project. The project involves the drilling of up to four development wells at the Julimar field and the installation of subsea infrastructure to connect to the existing Julimar field production system. Fresh supply is scheduled to flow to Wheatstone’s LNG facility in Western Australia.
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