Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Woodside Petroleum Limited    WPL   AU000000WPL2

End-of-day quote. End-of-day quote  - 05/23
33.13 AUD   +0.55%
05/23 WOODSIDE PETROL : 23.05.2017 Investor Briefing Day 2017
05/17 Australian firms say proposed anti-bribery laws may hamper overse..
05/17 WOODSIDE PETROL : Test123
News SummaryMost relevantAll newsSector newsTweets 

Woodside Targets Cyprus In Gas Joint Venture

share with twitter share with LinkedIn share with facebook
share via e-mail
05/14/2012 | 10:30am CEST

--Woodside forms Cyprus venture with Delek, Enel, Edison

--Venture to bid for exploration blocks

--CEO says LNG a likely development path

(Adds composition of Cyprus joint venture in third paragraph; CEO comments on Cyprus from fifth paragraph; update on Pluto LNG expansion from eighth paragraph.)

By David Winning and Ross Kelly


Woodside Petroleum Ltd. (>> Woodside Petroleum Limited) has joined a consortium to bid for natural gas exploration blocks offshore the Mediterranean island nation of Cyprus, Chief Executive Peter Coleman said Monday, in the latest sign of international interest in an emerging energy province following a series of big discoveries.

Mr. Coleman told a conference that the bid plans reflected a desire to expand Woodside's global footprint to balance better its scale in Australia, where it operates two multi-billion dollar gas-export projects--the North West Shelf and Pluto--with ambitions to lead the development of two more.

Woodside will join Israel's Delek Group Ltd., Italy's Enel Trade SPA and France's Edison International SPA in the bid consortium, of which the Australian company holds a 30% stake.

Interest in the eastern Mediterranean's potential has grown following the discovery of the Tamar and Leviathan fields, estimated to contain up to 9 trillion cubic feet of natural gas and 16 trillion cubic feet, respectively, offshore Israel in recent years by Woodside's competitors.

Coleman said it was too early to tell if Cyprus will house Woodside's next big energy development outside Australia.

"It's simply bidding on some exploration acreage," he told reporters.

"It's an emerging basin that's very close to market, and it's very close to those premium European markets."

Coleman said that the most likely development path for the gas would be to chill it for export by constructing a new liquefied natural gas plant. Cyprus has already identified a site where it would like an LNG plant to be situated. Woodside's capabilities may "play well" to the development of large discoveries offshore Israel too but no commercial discussions have taken place in that regard, Coleman said.

Separately, the executive said Woodside still hasn't discovered enough gas to underpin a desired expansion of its A$14.9 billion Pluto project in Western Australia state. "The drilling program hasn't delivered on what we hoped a couple of years ago. We've got a few more wells to drill, and in about the third quarter we'll decide whether we need to take a break or not," Coleman said.

Woodside is also talking to potential third party suppliers to the project. Analysts have speculated that Hess Corp. (HES) or the Scarborough joint venture between BHP Billiton Ltd. (>> BHP Billiton Limited) and ExxonMobil Corp. (XOM) are considering processing their gas through LNG projects on the coast operated by Woodside and Chevron Corp. (CVX).

-By David Winning and Ross Kelly, Dow Jones Newswires; +61-2-82724688; [email protected]

(MORE TO FOLLOW) Dow Jones Newswires

05-14-12 0429ET

Stocks mentioned in the article : Woodside Petroleum Limited, BHP Billiton Limited
share with twitter share with LinkedIn share with facebook
share via e-mail
05/23 WOODSIDE PETROLEUM : 23.05.2017 Investor Briefing Day 2017
05/17 Australian firms say proposed anti-bribery laws may hamper overseas investmen..
05/15 WOODSIDE PETROLEUM : 15.05.2017 CEO APPEA Speech 2017
05/11 WOODSIDE PETROLEUM : 11.05.2017 Appendix 3Z McEvoy
05/11 WOODSIDE PETROLEUM : 11.05.2017 Appendix 3Y Archibald, Cilento, Cooper, Haynes, ..
05/05 WOODSIDE PETROLEUM : 05.05.2017 2017 AGM Final Voting Results
05/05 WOODSIDE PETROLEUM : 05.05.2017 AGM Address by Chairman Michael Chaney and CEO P..
04/24 WOODSIDE PETROLEUM : adds a fifth well in Myanmar drilling programme
04/24 WOODSIDE PETROLEUM : adds a fifth well in Myanmar drilling programme
More news
Sector news : Oil & Gas Exploration and Production - NEC
05/23 Norway oil ministry says has no plan to cut oil output
05/15 TSX advances as banks, energy power broad rally
05/15DJMARKET SNAPSHOT : Stock Market Sets Fresh Records As Oil Rallies
05/15DJMARKET SNAPSHOT : Stock Market Sets New Records As Oil Rallies
05/15DJMARKET SNAPSHOT : Stock Market Trades Near Records As Oil Rallies On Talk Of Out..
More sector news : Oil & Gas Exploration and Production - NEC
News from SeekingAlpha
05/23 Woodside Petroleum (WOPEF) Investor Presentation - Slideshow
05/23 Woodside Petroleum sees production growing 15% by 2020
04/20 Woodside Petroleum Ltd. ADR reports Q1 results
04/06 Tellurian's fixed-price LNG offer eyed cautiously by Japan buyers
03/30 Petrobras pulls out of asset sale to Karoon Gas
Financials ($)
Sales 2017 4 184 M
EBIT 2017 1 737 M
Net income 2017 1 054 M
Debt 2017 4 664 M
Yield 2017 4,16%
P/E ratio 2017 19,42
P/E ratio 2018 17,14
EV / Sales 2017 6,06x
EV / Sales 2018 5,33x
Capitalization 20 705 M
More Financials
Duration : Period :
Woodside Petroleum Limited Technical Analysis Chart | WPL | AU000000WPL2 | 4-Traders
Full-screen chart
Technical analysis trends WOODSIDE PETROLEU...
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 25,2 $
Spread / Average Target 2,3%
Consensus details
EPS Revisions
More Estimates Revisions
Peter John Coleman Chief Executive Officer, MD & Executive Director
Michael Alfred Chaney Chairman
Michael Utsler Chief Operating Officer
Lawrence John Tremaine Chief Financial Officer & Executive Vice President
Shaun Gregory Senior VP-Strategy, Science & Technology
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CNOOC LTD-5.08%52 558
More Results