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""SYDNEY -(Dow Jones)- Woodside Petroleum Ltd. (WPL.AU) on Friday appeared to drop an end-of-2010 final investment decision target for an expansion of its Pluto liquefied natural gas project.
Woodside said a decision will be made "contingent on identification of economically viable gas resources either through exploration volumes and/or other resource owners".

In previous production reports, Woodside had clearly stated an end-of-2010 final investment decision target, but no mention of the target was made on Friday.

Australia's second biggest oil and gas producer also reported a 48% increase in second quarter revenue to A$1.07 billion from A$728 million in the previous year on a higher oil price. Quarterly production fell l10% to 17.5 million barrels of oil equivalent, as expected, and Woodside maintained its annual production guidance of 70 million-75 million BOE.

Several brokers including Macquarie have recently warned that Woodside could miss the Pluto expansion investment decision target date. The company is currently exploring for more gas to underpin the expansion and said talks with possible third party gas suppliers continue. ""

http://www.automatedtrader.net/real-time-dow-jones/7102/woodside-drops-mention-of-pluto-expansion-timeline-in-2q-report