28 Woodside Petroleum Ltd|Annual Report 2018
97. 4 %
LNG unit production cost
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.
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.
+Record LNG production rates, including 100%
reliability in Q2
+Entered execute phase on PLA07 inﬁll well
+Commissioned Pluto pipeline gas facility
+Start-up of LNG truck loading facility
+Achieve RFSU on PLA07 inﬁll well
+Undertake major turnaround in Q2
lGross margin 35.7 56
lDepreciation and amortisation 20.1 31
lOther 4.8 7
lProduction cost 3.6 6
56% GROSS MARGIN