2 Woodside Petroleum Ltd|Annual Report 2018
Woodside is the pioneer of the LNG industry in Australia and the largest Australian natural gas producer.
We have a global portfolio and are recognised for our world-class capabilities as an integrated upstream
supplier of energy.
We have a clear strategy to deliver superior shareholder
returns across three distinct time horizons, characterised by
cash generation from 2017, unlocking value from 2022, and
repeating our successes from 2027.
We are delivering on our strategy, creating an integrated
LNG production centre on the Burrup Peninsula. Building on
more than 30 years of operations in Western Australia, we
are progressing development of the Scarborough and Browse
gas resources through our producing assets, the Woodside-
operated Pluto LNG and North West Shelf (NWS) Project.
Our operated assets are renowned for their safety, reliability
and eciency and we have a strong track record in project
development. As Australia's premier LNG operator, we
produced 6% of global LNG supply. We operate two floating
production storage and ooading (FPSO) facilities.
We also have a participating interest in Wheatstone LNG,
which started production in 2017.
Across our oil and gas portfolio, we have significant equity
interests in high-quality development opportunities in Senegal
(SNE), Myanmar, Canada (Kitimat) and Timor-Leste / Australia
(Sunrise). We are pursuing new concepts and technology to
enable cost-eective commercialisation of these resources.
We have a renewed exploration plan with a more focused
and opportunistic approach across established, emerging and
future growth hubs in Australia, Myanmar, Senegal, Gabon,
Peru and Bulgaria.
We continue to expand our capabilities in marketing, trading and
shipping and have enduring relationships that span 30 years with
foundation customers throughout the Asia-Pacific region.
Technology and innovation are essential to our long-term
sustainability. Today we are pioneering remote support and
the application of artificial intelligence, embedding advanced
analytics across our operations while recognising digital security
issues. We are working to improve our energy eciency and to
support the use of LNG as a low-emissions and economically
viable fuel.
Woodside demonstrates strong safety and environmental
performance in all its operations. We are committed to
upholding our values of integrity, respect, discipline, excellence,
working sustainably and working together. Our success is
driven by our people, and we aim to attract, develop and retain
a diverse, high-performing workforce.
We recognise that enduring, meaningful relationships
with communities are fundamental to maintaining our
licence to operate. We actively seek to build relationships
with stakeholders who are interested in and aected by our
activities. We help create stronger communities through
programs that improve knowledge, build resilience and
create shared opportunities.
Our proven track record and distinctive capabilities are
underpinned by almost 65 years of experience, making
us a partner of choice.
As Australia’s premier LNG
operator, we produced 6%
of global LNG supply.