“Production increases during the quarter for North West Shelf domestic gas, condensate, LPG and oil were offset by lower volumes from Laminaria and Legendre due to natural field decline and operational issues at Laminaria and Train 4 [of the North West Shelf LNG project]. The Q1 2005 production was also 2% lower than the previous corresponding period,” it said.

Woodside also said the Otway Gas Project remained within budget and on schedule for a mid-2006 start-up. Earthworks for the Onshore Gas Plant were nearing completion and civil works were underway. Fabrication of the production platform has started with construction about 30% complete.

It said the Enfield project is within budget and on schedule to meet Q4 2006 start-up with the FPSO vessel, the ‘Nganhurra’ being successfully launched in Korea on 2 April 2005.

The March quarter was a marked improvement on last year’s performance in the same quarter, earning $570 million compared to last year’s $472 million, but it slipped slightly from the December quarter last year in which Woodside posted $759 million.

Woodside also said production through the Cossack Pioneer FPSO was up by 20.7% from the December quarter with two new infill wells coming on-line at the end of the year and said it was looking forward to production from the Mutineer Exeter fields in offshore WA in which Woodside has an

In other Woodside news, the company said it had bought 69, 404 Woodside shares for managing director Don Voelte for a total of $1.6 million as part of his employment contract. The shares will be held in trust until his contract expires or 2015.