Oil and gas major Woodside Petroelum has warned of a non-cash impairment of A$720-million in relation to its Kitimat assets, in Canada, for the 2019 financial year.
US major Chevron, which holds a 50% stake in the Kitimat project, in December of last year announced plans to exit the asset, which comprises upstream resource assets in the Liard and Horn River Basins, the 471-km Pacific Trail Pipeline, and a natural gas liquefaction facility at Bish Cove near Kitimat.