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, with new oil developments Powerplay and Neptune scheduled for start-up in 2008.

In 2007, Woodside’s net production from the Gulf of Mexico averaged about 37 million cubic feet of gas a day and 550 barrels of liquids a day.

Woodside acquired a 15% interest in the US$1 billion Ohanet gas project in the Illizi province of Algeria, in December 2000.

In 2007, the Ohanet Joint Venture received its full revenue entitlement of US$54.6 million (Woodside share), which equals 1,363,884 barrels of condensate and 111,053 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.