30 Woodside Petroleum Ltd|Annual Report 2018
NWS
PROJECT
2018 HIGHLIGHTS
+Exceeded 2018 production targets
+Delivered 5,000th LNG cargo
+Averaged 97.1% reliability
2019 ACTIVITIES
+Progress commercial agreements and technical work
to process third-party gas at KGP
+Undertake exploration of the Achernar gas prospect
+Take FID on Lambert Deep and South Goodwyn tie-backs
Production
MMboe
34.0
Delivered
262
Sales revenue
million
$1,497
Central to our vision for the Burrup Hub is extending
the life of the NWS Project facilities to safely deliver
reliable energy supply for decades to come, while
maintaining strong base business performance.
Production
In 2018, we continued to set the foundations for NWS Project
Extension while maintaining excellent performance from the
project’s base business. Annual production of 34.0 MMboe was
achieved at a globally competitive LNG unit production cost of
$3.6/boe. Average LNG reliability during the year was 97.1%.
The NWS Project delivered 262 LNG cargoes (100% project),
including delivery of the 5,000th cargo from KGP in
September 2018.
We continued to invest to improve plant reliability and
performance during the year, executing major onshore and
oshore turnarounds involving LNG train 1, LNG train 2 and
the Goodwyn A platform.
$/boe %
lGross margin 24.3 55
lDepreciation and amortisation 8.0 18
lOther 8.1 19
lProduction cost 3.6 8
55% GROSS MARGIN
LNG cargoes
(100% project)
LNG unit production cost
per boe
$3.6