SYDNEY, Jan 19 (Reuters) - Woodside Petroleum WPL.AX , Australia's largest independent oil and gas producer, said fourth-quarter production dropped 5.5 percent while sales revenue rose 2 percent from the third quarter, the company said.
The company flagged it expects annual production in 2017 to fall to 84-90 million barrels of oil equivalent (mmboe) from 94.9 mmboe last year, in line with two analysts' forecasts for a drop in output to around 87 mmboe.
Fourth-quarter output in 2016 reached 23.8 mmboe compared with 25.2 mmboe in the previous three-month period, Woodside said.
Revenue rose 2 percent to $1 billion from $988 million in the previous quarter, better than analysts' forecasts.