International

Woodside has developed an international portfolio of quality oil and gas assets, including interests in Africa, the Gulf of Mexico, Korea and Brazil. Woodside’s international production revenue is largely generated from its interests in the Gulf of Mexico and Algeria.

We began exploring in the Gulf of Mexico in 1999 and now participate in more than a dozen producing fields. We achieved a significant milestone in June 2008 with first production from our deepwater project Power Play. We have a 20 per cent working interest in the field, which was discovered in 2006.

First production at Power Play was followed by oil and gas production from a second deepwater field, Neptune, in July. Woodside has a 20 per cent interest in Neptune, which comprises a tension leg platform installed in 1300 metres of water.

In 2009, our United States business contributed 3.2 million barrels of oil equivalent to Woodside's production.
Woodside acquired a 15% interest in the US$1 billion Ohanet gas project in the Illizi province of Algeria, in December 2000.

In 2009, the Ohanet Joint Venture received its full revenue entitlement of $70 million (Woodside share), which equals 1.4 million barrels of condensate and 112,000 tonnes of LPG (at a 10-year average price at the time of initial production).

Each day, the plant processes about 710 million cubic feet of gas from thirty-two wells and exports about 30,000 barrels of condensate and 26,000 barrels of liquid petroleum gas.

Under the project's risk service contract with the Algerian National Oil company, Sonatrach, Woodside receives a share of the condensate and liquid petroleum gas produced over 8 to 12 years. The final proportion received depends on market prices. Woodside has no share in pipeline sales gas.