66 Woodside Petroleum Ltd|Annual Report 2018
Proved (1P) Developed and Undeveloped reserves by region*
Dry gas Condensate Oil Total
Bcf MMbbl MMbbl MMboe
Developed
Undeveloped
Total
Developed
Undeveloped
Total
Developed
Undeveloped
Total
Developed
Undeveloped
Total
Greater Pluto21, 31 848.4 1,551.7 2,400.1 11.8 25.4 37.2 0.0 0.0 0.0 160.7 297.6 458.3
North West Shelf
22, 31
1,050.5 102.6 1,153.1 21.1 3.0 24.1 10.2 0.0 10.2 215.6 21.0 236.6
Greater Exmouth 0.0 0.0 0.0 0.0 0.0 0.0 5.1 31.0 36.2 5.1 31.0 36.2
Wheatstone24 434.4 507.2 941.6 10.3 8.4 18.7 0.0 0.0 0.0 86.6 97.4 183.9
Canada25 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Reserves 2,333.4 2,161.4 4,494.7 43.3 36.7 80.1 15.4 31.0 46.4 468.0 447.0 915.0
*Small dierences are due to rounding.
Proved plus Probable (2P) Developed and Undeveloped reserves by region*
Dry gas Condensate Oil Total
Bcf MMbbl MMbbl MMboe
Developed
Undeveloped
Total
Developed
Undeveloped
Total
Developed
Undeveloped
Total
Developed
Undeveloped
Total
Greater Pluto 1,447.3 1,920.7 3,367.9 19.5 32.3 51.9 0.0 0.0 0.0 273.4 369.3 642.7
North West Shelf 1,231.2 115.7 1,346.9 26.5 3.5 29.9 13.3 0.0 13.3 255.8 23.8 279.6
Greater Exmouth 0.0 0.0 0.0 0.0 0.0 0.0 12.4 42.0 54.4 12.4 42.0 54.4
Wheatstone 582.0 755.9 1,337.8 13.8 12.6 26.4 0.0 0.0 0.0 115.9 145.2 261.1
Canada 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Reserves 3,260.5 2,792.2 6,052.7 59.8 48.4 108.2 25.7 42.0 67.7 657.5 580.3 1,237.8
*Small dierences are due to rounding.
Governance and assurance
Woodside, as an Australian company listed on the Australian
Securities Exchange, reports its petroleum resource estimates
using definitions and guidelines consistent with the 2018
Society of Petroleum Engineers (SPE)/World Petroleum
Council (WPC)/American Association of Petroleum Geologists
(AAPG)/Society of Petroleum Evaluation Engineers (SPEE)
Petroleum Resources Management System (PRMS).
Woodside has several processes to provide assurance for reserves
reporting, including the Woodside Reserves Policy, the Petroleum
Resources Management Procedure, sta training and minimum
competency levels and external reserves audits. On average,
96% of Woodside’s Proved Reserves have been externally verified
by independent review over the past four years.
Unless otherwise stated, all petroleum resource estimates are
quoted as net Woodside share at standard oilfield conditions
of 14.696 pounds per square inch (psi) (101.325 kPa) and
60 degrees Fahrenheit (15.56 degrees Celsius).
Qualified petroleum reserves and resources
evaluator statement
The Reserves and Resources Statement is based on and
fairly represents information and supporting documentation
prepared by qualified petroleum reserves and resources
evaluators. The Reserves and Resources Statement has been
approved by Mr Ian F. Sylvester, Woodside’s Vice President
of Reservoir Management, who is a full-time employee of the
company and a member of the Society of Petroleum Engineers.
Mr Sylvester’s qualifications include a Master of Engineering
(Petroleum Engineering) from Imperial College, University
of London, England, and more than 20 years of relevant
experience. Mr Sylvester has consented in writing to the
inclusion of this information in this report.