QCLNG sanction in 2010: now two-train 8.5 mtpa plant, expected onstream 2014, underpinned by China, Chile and Singapore LNG agreements for up to 8.3 mtpa. QGC discovered reserves and resources 17.3 tcf, anticipated net plateau production of circa 225 000 boed. Upstream: acreage circa 120 000 sq kms; development to comprise circa 1 800 wells by end 2014, rising to more than 6 000 wells over the life of two trains at QCLNG. Future upside: further potential in the Surat basin, together with resources in the Bowen basin and potential QCLNG expansion. US
AOE Price at posting:
$3.43 Sentiment: Buy Disclosure: Held
