Woodside cuts Greater Pluto gas reserves
Woodside on November 5 slashed the total proved and probable gas reserves estimate for its Greater Pluto region off Western Australia by about 10%.
Excluding 2021 production to date, the company cut the reserves to 394.9mn barrels of oil equivalent (boe) from 440.5mn boe. The Greater Pluto region comprises the Pluto, Xena, Pyxis, Larsen, Martell, Martin, Noblige and Remy fields. Pluto and Xena fields supply gas to Woodside’s single train Pluto LNG plant. Woodside has upgraded the proven reserves by 10%, however.
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Woodside holds a 90% interest, as operator, in the WA-34-L production licence covering the Pluto, Xena and Pyxis fields. It holds a 100% interest, as operator, in the WA-404-P exploration permit covering the Larsen, Martell, Martin, Noblige and Remy fields. No revision has been made to the contingent resource estimate for WA-404-P, Woodside said.
CEO Meg O’Neill last month reiterated that Woodside was on track for a targeted final investment decision on the Scarborough and Pluto Train 2 developments before the end of this year.
The company had recently adjusted its estimate of reserves at Julimar and Brunello, two of the four fields which provide natural gas to the Wheatstone LNG project. After completing reservoir studies based on 4D seismic, well performance and well drilling results, the company reduced its estimate of total proved plus probable reserves by 27%, to 168.4mn boe.