The Eni SpA-led Woollybutt crude-oil venture off Western Australia reached its output target for the project after starting up production last week at the southern part of the field, said Tap Oil Ltd., a partner.

Total output at Woollybutt has reached 12,000 barrels a day, Perth-based Tap Oil said today in a statement to the Australian Stock Exchange. The development of the Woollybutt South project increased estimated reserves at the project to about 40 million barrels, of which 29 million have been produced so far, it said.

Rome-based Eni, Europe's largest seller of natural gas, owns 65 percent of the project and is the operator, while Exxon Mobil Corp. owns 20 percent and Tap Oil 15 percent.