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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Woodside Petroleum Ltd    WPL   AU000000WPL2

WOODSIDE PETROLEUM LTD

(WPL)
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Woodside Nears Final Investment Decision on Senegal Oil Project

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12/02/2019 | 04:57pm EST

By Robb M. Stewart

MELBOURNE, Australia -- Woodside Petroleum said it has submitted the last major regulatory paperwork on a planned oil development in Senegal, potentially clearing the way for the oil company and its partners to make a final investment decision later this month.

In a statement Tuesday, Woodside said the development plan and exploitation authorization request were handed to Senegal's government, the final documents needed by authorities before granting approval to proceed.

The plan outlines how the Sangomar oil field will be developed and will benefit the joint venture and the people of Senegal.

The first phase of the Sangomar development includes a stand-alone floating production, storage and offloading facility with 23 subsea wells. The facility is expected to have a capacity of 100,000 barrels a day, with the first oil produced in early 2023, Woodside said. The first phase will target an estimated 230 million barrels of oil.

The project is designed to allow for it to be integrated into further developments, including gas exports to shore, Woodside said.

Woodside is the operator of the Sangomar development, partnering with a subsidiary of Cairn Energy, FAR and the Senegal National Oil Co., or Petrosen.

Write to Robb M. Stewart at robb.stewart@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CAIRN ENERGY -2.00% 176.4 Delayed Quote.20.00%
FAR LIMITED 10.20% 0.054 End-of-day quote.-26.87%
LONDON BRENT OIL 0.17% 64.14 Delayed Quote.16.84%
WOODSIDE PETROLEUM LTD -0.82% 34.07 End-of-day quote.7.66%
WTI 0.39% 59.07 Delayed Quote.29.85%
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Financials (AUD)
Sales 2019 6 709 M
EBIT 2019 2 732 M
Net income 2019 1 644 M
Debt 2019 3 621 M
Yield 2019 4,23%
P/E ratio 2019 19,7x
P/E ratio 2020 15,4x
EV / Sales2019 5,33x
EV / Sales2020 4,97x
Capitalization 32 104 M
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 37,68  AUD
Last Close Price 34,07  AUD
Spread / Highest target 43,8%
Spread / Average Target 10,6%
Spread / Lowest Target -9,01%
EPS Revisions
Managers
NameTitle
Peter John Coleman Chief Executive Officer, Executive Director & MD
Richard J. B. Goyder Chairman
Meg O'Neill Chief Operating Officer & Executive Vice President
Sherry Duhe Chief Financial Officer & Executive Vice President
Shaun Gregory CTO, Executive VP-Exploration & Technology
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