28 Woodside Petroleum Ltd|Annual Report 2018
Production
MMboe
43.3
LNG reliability
97. 4 %
LNG unit production cost
per boe
$3.6
Sales revenue
million
$2,510
A continued focus on safety and operational
excellence has driven outstanding production from
Pluto LNG, providing a firm basis for our Burrup
Hub growth projects.
Production
Annual production of 43.3 MMboe was achieved in 2018 at a
globally competitive LNG unit production cost of $3.6/boe.
Pluto LNG continues to demonstrate strong reliability
performance, achieving 100% reliability in Q2 2018 and 99.7%
in Q4 2018. Average reliability over the year was 97.4%.
The capacity of Pluto LNG was increased to 4.9 Mtpa from
the original nameplate capacity of 4.3 Mtpa. This was achieved
by application of new technology and the ongoing delivery of
debottlenecking and optimisation projects across the facility.
Pluto LNG delivered 70 LNG cargoes (100% project), of which
48 were sold under foundation contracts, 13 under mid-term
contracts and 9 on the spot market.
PLUTO
LNG
2018 HIGHLIGHTS
+Record LNG production rates, including 100%
reliability in Q2
+Entered execute phase on PLA07 infill well
+Commissioned Pluto pipeline gas facility
2019 ACTIVITIES
+Start-up of LNG truck loading facility
+Achieve RFSU on PLA07 infill well
+Undertake major turnaround in Q2
$/boe %
lGross margin 35.7 56
lDepreciation and amortisation 20.1 31
lOther 4.8 7
lProduction cost 3.6 6
56% GROSS MARGIN