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Northbridge Industrial Services Plc

Woodside increases gas estimate for Scarborough project

Australian oil and gas company Woodside has completed subsurface studies on the Scarborough gas field, resulting in a resource volume increase of 52 percent.

Woodside said on Friday that the estimated gross contingent resource (2C) dry gas volume for the Scarborough field increased to 11.1 tcf, up 52 percent from 7.3 tcf.

The company’s interest in the Greater Scarborough area, which covers the Scarborough, Thebe, and Jupiter fields, comprises a 75 percent interest in WA-1-R – which contains the majority of the Scarborough field – and a 50 percent interest in each of WA-61-R, WA-62-R, and WA-63-R.

Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.