Woodside says problems found at Neptune project

SYDNEY, March 25 (Reuters) - Woodside Petroleum Ltd (WPL.AX: Quote, Profile, Research), Australia's second-largest oil and gas producer, said on Tuesday operator BHP Billiton (BHP.AX: Quote, Profile, Research) had found problems with the hull at the Neptune oil and gas project in the Gulf of Mexico.

Further structural inspection of the platform was underway to determine any required action, Woodside said.

Woodside, which has a 20 percent stake in the Neptune project, said its 2008 production is estimated to be impacted by 0.15 million barrels of oil equivalent (boe) per month from 1 April 2008 until the issue is resolved. (Reporting by Fayen Wong)