Woodside Energy reports more than 30 percent drop in revenues as LNG expansion and Africa oil project advance
Western Australian LNG operator Woodside Energy reported quarterly revenues down by nearly a third from lower oil and natural gas prices as projects progressed in LNG in Australia and in oil offshore Senegal in West Africa.
Seatrium posts solid earnings underpinned by LNG as group moves forward after merger and Brazil issues
Seatrium of Singapore, the shipyard engineering company with continuing liquefied natural gas project successes, reported a three-fold increase in annual revenues underpinned by LNG vessel deliveries to Greece and West Africa.
Australia’s Woodside welcomes FPSO arrival off Senegal as West African nation set for oil and LNG benefits
Woodside Energy, the leading liquefied natural gas operator in Western Australia, said the “Léopold Sédar Senghor” floating production, storage and offloading (FPSO) unit had safely arrived off the West African state of Senegal for a key oil project.
“This is a significant step toward achieving first production from the Sangomar oil field which is targeted for mid-2024,” said Woodside.
The FPSO’s delivery for the Sangomar oil venture follows the arrival of an FLNG production vessel in November 2023 for a separate project run by UK major BP that will also benefit Senegal as well as its neighbour Mauritania.
Oil output nearer
The Perth-based company said that the arrival of the FPSO, named after the first President of Senegal, from Singapore to its final destination, located 100 kilometres (62 miles) offshore the Sengalese capital Dakar, marked the start of the next phase of the project.
Woodside will now help oversee the commissioning of the FPSO and the hooking up to the 23 production, gas and water injection wells that make up the Sangomar Field Development Phase 1.
Woodside Chief Executive Meg O’Neill said the Sangomar project was advancing to the company’s satisfaction.
“The FPSO arrival brings us closer to first production,” said O’Neill.
“We are proud to be Senegal’s first offshore oil project operator and firmly believe that this project will prove to be important to Senegal’s future development and prosperity,” O’Neill stated.
“In addition to developing Senegal’s energy resources, we have already begun working with the Government of Senegal, local businesses and communities to develop programs that create business opportunities, build local capabilities, foster employment opportunities, and bring broad economic benefits as a result of our operations,” O’Neill explained.
The Woodside CEO also praised the role of the Société des Pétroles du Sénégal (Petrosen), the national oil and gas company, as a contracting partner in the venture.
The Sangomar Field Development Phase 1 includes the stand-alone FPSO with subsea infrastructure and an expected production capacity of around 100,000 barrels of oil per day.
LNG developments
Senegal is also separately involved in floating LNG joint ventures being developed by BP and Kosmos Energy along with the governments of Senegal and Mauritania in the offshore Greater Tortue Ahmeyim natural gas fields.
Seatrium Group of Singapore converted and delivered an LNG floating production vessel, the “Gimi FLNG”, to be stationed at a nearshore hub located on the Mauritania and Senegal maritime border, and is expected to begin production in 2024 as part of the first phase of the FLNG venture.
The “Gimi FLNG” was converted by Seatrium in a project in partnership with Norway’s Golar LNG from a 1975-built Moss LNG carrier with a storage capacity of 125,000 cubic metres.
It is designed for 20 years of operations on-site without dry docking, with a liquefaction capacity of 2.7 million tonnes per annum and is contracted to operate near shore in 30 metres of water depth.
Australian LNG operator Woodside tells nervous investors plans into the future involve multiple oil and gas projects
Woodside Energy, the operator of two liquefied natural gas export plants in Western Australia and other oil and gas assets from the US to Africa, said it had three main strategic goals in the years ahead to supply energy as current production is not enough and large new investments are needed to bring additional fields on stream.
Australian LNG operator Woodside posts annual revenues of US$16.85Bln as expansion projects advance
Woodside Energy, the Western Australian LNG plant operator and oil and gas producer, posted total annual sales revenues of US$16.85 billion compared US$6.97Bln in 2021 as prices soared and progress was made on LNG and oil growth projects.
Woodside of Australia files Sangomar field development plans for offshore Senegal
Australian liquefied natural gas operator Woodside said it had submitted its plans for the Sangomar Field Development project offshore Senegal, the West African nation also participating in separate floating LNG projects led by BP of the UK.
