Woodside cuts spend, delays Scarborough and Browse FID again

THESE are “extraordinary and challenging times” Woodside Petroleum CEO Peter Coleman said this morning during an earnings call outling company cuts to spending and the reasoning behind delaying the combined $50 billion Burrup Hub project to commericalise the Scarborough and Browse gas fields via the Pluto LNG plant and the North West Shelf.

Woodside cuts spend, delays Scarborough and Browse FID again Woodside cuts spend, delays Scarborough and Browse FID again Woodside cuts spend, delays Scarborough and Browse FID again Woodside cuts spend, delays Scarborough and Browse FID again Woodside cuts spend, delays Scarborough and Browse FID again

Woodside will also delay work at the KGP this year

Final investment decision for Scarborough has been delayed to 2021 and Browse has been left open ended.
 
Woodside will cut its forecast total capital spend this year by 50% to $2.4 billion.