Woodside Petroleum has scaled back its development in Northwest Australia, but not its ambition.
In an investor update, the Australian-quoted company announced that it would build only one LNG train to support its Pluto project.
A deepwater well drilled on the Exmouth plateau encountered non-commercial quantities of hydrocarbons.
The well has now been plugged and abandoned.
The company needs to establish more reserves to justify expansion of its Pluto development.
A further five exploration wells are planned to be spudded between now and mid-2012 as the search widens.
Initial
