Stybarrow, Vincent Oil To Shut For Works Some Time In 2010

The Stybarrow and Vincent oil operations offshore Western Australia state will shut temporarily for maintenance some time in 2010, their respective operators BHP Billiton Ltd. (BHP) and Woodside Petroleum Ltd. (WPL.AU) said Thursday.

A BHP spokeswoman said Stybarrow, of which it is operator and a 50% shareholder, with Woodside owning the other 50%, will have a planned maintenance shutdown in 2010 "consistent with good oil field practice".

The spokeswoman wouldn't comment on when, or for how long, Stybarrow will be shut in.

A Woodside spokesman confirmed that Vincent's operations will cease in the first half of 2010 for an undisclosed period. The spokesman referred to Woodside's investor briefing presentation in November, which said Vincent will undergo "gas compression restoration".

Production at Vincent in 2009 was disrupted by a fire in its gas compressor and production has been constrained since then by a lack of gas compression.

A trader said earlier this week that no exports from Vincent or Stybarrow are expected in February due to the fields being shut for maintenance.

Total oil production from Stybarrow in 2008 was about 25 million barrels, although output is expected to decline this year because the field is in natural decline.

At Vincent, which is 60% owned by Woodside, 2008 production was about 3 million barrels, although the field didn't start producing until late that year. Japan's Mitsui & Co. owns the remainder of Vincent.

-By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957; ross.kelly@dowjones.com

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