Wednesday, April 24, 2013

Woodside still committed to Browse

Woodside still committed to Browse:

Chief executive Peter Coleman said Woodside would now propose a work program with its joint venture partners for the remaining 20 months of the retention leases.

"While our announcement signals the closing of a chapter, it is by no means the end of Woodside's plans to develop the world-class Browse resource," Mr Coleman told the company's annual general meeting in Perth.

"I am confident that we can begin basis design work on new concepts in the near future."

Shareholders overwhelmingly approved the company's 2012 remuneration report, which included Mr Coleman's total annual pay of $7.3 million, including almost $5 million in bonuses.

Chairman Michael Chaney said the environmental protest against the Browse gas plant had had "zero" influence on the board's decision on Browse.

He said there were "some dollar costs" involved in dealing with the protest as part of $1.5 billion spent on the project.

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