Jan 10 (Reuters) - Woodside Petroleum Ltd WPL.AX :
* SANGOMAR FIELD DEVELOPMENT APPROVED
* SANGOMAR FIELD DEVELOPMENT PHASE 1 APPROVED BY RUFISQUE OFFSHORE, SANGOMAR OFFSHORE AND SANGOMAR DEEP OFFSHORE JV
* DEVELOPMENT HAS ENTERED EXECUTE PHASE OF ACTIVITIES
* CO, AS OPERATOR OF RSSD JV, EXECUTED PURCHASE CONTRACT FOR FLOATING PRODUCTION STORAGE & OFFLOADING FACILITY
* PHASE 1 OF DEVELOPMENT WILL TARGET AN ESTIMATED 231 MMBBL OF OIL RESOURCES
* DUE TO FIRST RESERVES BOOKING FOR SANGOMAR DEVELOPMENT, CO'S RESERVES INCREASED BY 60 MMBOE AT 2P CONFIDENCE LEVEL
* EXPECTS FIRST OIL FROM PROJECT IN EARLY 2023