Another Woodside gas discovery firms up chances for Pluto project
Woodside Petroleum (ASX:WPL) reported another gas find in Western Australia's Carnarvon Basin.
The second discovery this week is the latest indication it could sanction an expansion of the Pluto liquefied natural gas project by the end of 2010.
Woodside said the Larsen Deep-1 well, owned in a joint venture with Hess Corp, has intersected a gas column of about 50m over several zones. The well is at 4,914m and is planned to drill down to 5,030m.
The size of the interval is not as large as the 185m gas column Woodside encountered at the Alaris-1 well.
On Monday, Woodside declared it has discovered more gas offshore Western Australia.
Of its Alaric-1 well, which is more than 400 kilometres out to sea, the company said "Initial analysis of drilling fluids suggests the gas could be comparatively liquids rich, but this requires confirmation by further analysis."
Woodside is hurrying to complete Pluto's first train, which is estimated to cost A13 billion and slated to commence LNG production of 4.3 million tonnes per annum in late 2010.
The company said wireline logging will be conducted on Larsen Deep-1 to obtain pressure and gas samples.