Woodside Petroleum Ltd. has increased total 1P reserves for the Greater Pluto field region on the Northwest Shelf off Western Australia by about 10%. At the same time, estimates for total 2P reserves have decreased by 10%.
The review follows completion of integrated subsurface studies incorporating 4D seismic and well performance data. The figures exclude production for 2021.
The region comprises five fields. Woodside is operator of production license WA-34-L (Pluto, Xena, Pyxis fields) with 90% interest. The company is operator of exploration permit WA-404-with 100% interest (Larsen, Martell, Martin, Noblige, Remy fields).
Woodside’s share of total 1P reserves (developed and undeveloped) in the area increased by 29.2 MMboe to 317.1 MMboe from 287.9 MMboe in 2020. The company’s share of total 2P reserves decreased by 45.7 MMboe to 394.9 MMboe from 440.5 MMboe in 2020. Greater Pluto 2C contingent resource decreased about 7% to 218.4 MMboe from 234.3 MMboe.
Greater Pluto has produced more than 440 MMboe from Pluto-Xena reserves since coming on stream in 2012. The region has total 2P reserves of about 360 MMboe for production in the years ahead, Woodside said.