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Reuters
2 minute read
The logo for Woodside Petroleum, Australia s top independent oil and gas company, adorns a promotional poster on display at a briefing for investors in Sydney, Australia, May 23, 2018. REUTERS/David Gray
Aug 4 (Reuters) - Woodside Petroleum Ltd (WPL.AX), Australia s top independent gas producer, said on Wednesday it had raised the cost estimate for its Scarborough project by 5% as it worked towards a final investment decision this year.
Woodside has pinned its hopes on Scarborough, which is now expected to cost $12 billion, as it is the company s only near- term option to replace depleting output from its North West Shelf and Pluto gas fields.