Woodside Energy sees 4% jump in estimated cost for Scarborough project
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July 23 (Reuters) -Australian oil and gas giant Woodside Energy WDS.AX flagged on Tuesdaya 4% jump in the estimated cost of its Scarborough project to $12.5 billion and reported a2% sequential rise in second-quarter revenue.
The country's biggest independent energy firm said the revised total project cost estimate was driven by scope maturation of the Pluto Train 1 modifications project.
It reported revenue of $3.03 billion for the three months ended June 30, compared with $2.97 billion in the March quarter.
Woodside attributed the jump in revenue to the timing of sales from its Pluto project. Roughly half of all the LNG cargoes were sold on the spot market in the quarter, the company said.
However, the gains were offset by lower oil and liquefied natural gas prices.
Woodside's quarterly average realized price fell to $62 per barrel of oil equivalent (boe) in the June quarter, 2% lower than $63 per boe in the prior quarter.
It produced 44.4 million barrels of oil equivalent (MMboe) during the quarter, compared with 44.9 MMboe in the previous quarter.
Quartely production was hit by planned maintenance activities and weather impacts at its North West Shelf project, among others.
However, Woodside is on track to achieve its full-year production guidance of 185-195 MMboe, it said.
Reporting by Echha Jain and Adwitiya Srivastava in Bengaluru; Editing by Devika Syamnath and Alan Barona
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