However, the result was 2% higher than the September quarter output, bringing the full-year production to 70.6 million boe, in line with earlier expectations of 70-71 million boe.

Woodside attributed the slight quarter-on-quarter increase to start-up of the Stybarrow oil field in northwestern Australia, as well as contribution from the Enfield project.

The company reported that it was still repairing a gas leak at a Corallina riser and subsea pumps at Mutineer-Exeter.

“The [Mutineer-Exeter] fields are currently producing at reduced rates of 5000 barrels per day due to electrical damage, which has affected the subsea pumps,” Woodside said.

“Operator Santos anticipates that repairs will be completed by April 2008.”

Sales revenue for the December quarter was $A1.17 billion, up 7% on the previous corresponding period thanks to “increased production of higher value products and stronger commodity prices,” Woodside said.

The company added that 2008 production was expected to be 80-86 million boe, reiterating an earlier forecast made in November.