Angel platform in production

The British-owned $1.2 billion (£679.52 million) Angel natural gas platform off Australia's north-west coast has begun production, with a daily capacity of 800 million cubic feet of gas.

The project will also produce up to 50,000 barrels of condensates a day.

The North West Shelf venture is part-owned by Royal Dutch Shell and BHP Billiton and operated by Woodside, itself 34%-owned by Shell.

The Angel platform, which is located 75 miles off the coast and designed to exploit booming fuel exports to northern Asia, was completed on time and under budget, Woodside said.

Woodside, Shell, BHP Billiton, BP, Chevron and a venture between Mitsubishi and Mitsui own equal shares in the A$25 billion venture — Australia's largest resources project.

Despite the announcement, BHP shares in Sydney fell more than 4%, weighed down by the wider gloom as investors waited for the outcome of the Congressional vote on the US bailout package