Dec 11 (Reuters) - Woodside Petroleum Ltd WPL.AX :
* NWS project approves development of GWF-2 project WPL.AX
* Project participants have approved the Greater Western Flank phase 2 (GWF-2)project off the north-west coast of Australia.
* Says total investment for the project is expected to be approximately US$2.0 billion
* Initial project start-up expected in 2H 2019.
* Says gas delivery will initially commence from five wells in the Lady nora, pemberton, Sculptor and Rankin fields
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