\n| \n 2026 full-year guidance<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Prior<\/b><\/p>\n<\/td>\n | \n Current<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nTotal production volumes3<\/sup><\/p>\n<\/td>\n| \n \nMMboe<\/p>\n<\/td>\n | \n \n172-186<\/p>\n<\/td>\n | \n \n174-185<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGas hub exposure4<\/sup><\/p>\n<\/td>\n| \n \n%<\/p>\n<\/td>\n | \n \n~30<\/p>\n<\/td>\n | \n \nNo change<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCapital expenditure5,6,7,8<\/sup><\/p>\n<\/td>\n| \n \n$ million<\/p>\n<\/td>\n | \n \n4,000 – 4,500<\/p>\n<\/td>\n | \n \nNo change<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAbandonment expenditure<\/p>\n<\/td>\n | \n \n$ million<\/p>\n<\/td>\n | \n \n500 – 800<\/p>\n<\/td>\n | \n \nNo change<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nExploration expenditure<\/p>\n<\/td>\n | \n \n$ million<\/p>\n<\/td>\n | \n \n~200<\/p>\n<\/td>\n | \n \nNo change<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nProduction costs<\/p>\n<\/td>\n | \n \n$ million<\/p>\n<\/td>\n | \n \n1,500 – 1,800<\/p>\n<\/td>\n | \n \nNo change<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nFeed gas, services and processing costs<\/p>\n<\/td>\n | \n \n$ million<\/p>\n<\/td>\n | \n \n500 – 600<\/p>\n<\/td>\n | \n \nNo change<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nProperty, plant and equipment depreciation and amortisation<\/p>\n<\/td>\n | \n \n$ million<\/p>\n<\/td>\n | \n \n4,200 – 4,700<\/p>\n<\/td>\n | \n \nNo change<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nWoodside CEO Liz Westcott said the company continued to deliver safe and strong operational performance across its global portfolio while efficiently executing major growth projects.<\/p>\n \n“We delivered production of 41.3 million barrels of oil equivalent in the second quarter, highlighted by outstanding reliability of 99.3% at Sangomar and 99.2% at Shenzi.<\/p>\n \n\u201cSustained production performance and asset reliability have provided greater certainty around expected full-year outcomes, supporting a narrower production guidance range for 2026.<\/p>\n \n“Strong realised prices supported earnings and cash generation, highlighting the resilience of our diversified portfolio amid ongoing macroeconomic and commodity price volatility.<\/p>\n \n“We continue to deliver our major growth projects to budget and schedule. The Scarborough Energy Project is 98% complete and remains on track for first LNG cargo in the fourth quarter of 2026. The successful completion of the Pluto planned maintenance during the quarter marked a key milestone in preparing for Pluto Train 2 integration and processing of Scarborough gas.<\/p>\n \n“At the end of the quarter Trion was 64% complete, with first oil targeted in 2028. At Louisiana LNG, the foundation phase continues to advance to plan, with the project 28% complete and targeting first LNG in 2029.<\/p>\n \n\u201cDuring the quarter, we exercised our pre-emption right to acquire PetroChina International Investment\u2019s 10.67% interest in Browse, reinforcing our commitment to progressing the Browse to North West Shelf development concept. We believe Browse has the potential to create enduring shareholder value while delivering significant long-term economic benefits for Australia.<\/p>\n \n“A new gas sales and purchase agreement to supply Alcoa\u2019s Western Australian alumina refining operations demonstrated Woodside\u2019s ongoing contribution to supporting the state’s energy security and supplying the domestic market.<\/p>\n \n\u201cSubsequent to the quarter, we assumed operatorship of the important Gippsland Basin assets, reinforcing Woodside\u2019s role as a reliable gas supplier to Australia\u2019s east coast.<\/p>\n \n“We are also continuing to focus on our sustainability performance, announcing a $5 million multi-year biodiversity program in Louisiana that builds on similar initiatives in Western Australia.\u201d<\/p>\n \n\n| \n Comparative performance at a glance<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Q2
\n
<\/b>2026<\/b><\/p>\n<\/td>\n | \n Q1
\n<\/b>
2026<\/b><\/p>\n<\/td>\n | \n Change
\n
<\/b>%<\/b><\/p>\n<\/td>\n | \n Q2
\n
2025<\/b><\/p>\n<\/td>\n | \n Change
\n
<\/b>%<\/b><\/p>\n<\/td>\n | \n YTD
\n
<\/b>2026<\/b><\/p>\n<\/td>\n | \n YTD
\n
<\/b>2025<\/b><\/p>\n<\/td>\n | \n Change
\n
<\/b>%<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Operating revenue<\/b><\/p>\n<\/td>\n | \n $ million<\/b><\/p>\n<\/td>\n | \n 4,185<\/b><\/p>\n<\/td>\n | \n 3,261<\/b><\/p>\n<\/td>\n | \n 28%<\/b><\/p>\n<\/td>\n | \n 3,275<\/b><\/p>\n<\/td>\n | \n 28%<\/b><\/p>\n<\/td>\n | \n 7,446<\/b><\/p>\n<\/td>\n | \n 6,590<\/b><\/p>\n<\/td>\n | \n 13%<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Production volumes9<\/sup><\/b><\/p>\n<\/td>\n| \n MMboe<\/b><\/p>\n<\/td>\n | \n 41.3<\/b><\/p>\n<\/td>\n | \n 45.2<\/b><\/p>\n<\/td>\n | \n (9%)<\/b><\/p>\n<\/td>\n | \n 50.1<\/b><\/p>\n<\/td>\n | \n (18%)<\/b><\/p>\n<\/td>\n | \n 86.5<\/b><\/p>\n<\/td>\n | \n 99.2<\/b><\/p>\n<\/td>\n | \n (13%)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Gas<\/i><\/p>\n<\/td>\n | \n MMscf\/d<\/i><\/p>\n<\/td>\n | \n 1,326<\/i><\/p>\n<\/td>\n | \n 1,578<\/i><\/p>\n<\/td>\n | \n (16%)<\/i><\/p>\n<\/td>\n | \n 1,825<\/i><\/p>\n<\/td>\n | \n (27%)<\/i><\/p>\n<\/td>\n | \n 1,451<\/i><\/p>\n<\/td>\n | \n 1,833<\/i><\/p>\n<\/td>\n | \n (21%)<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Liquids<\/i><\/p>\n<\/td>\n | \n Mbbl\/d<\/i><\/p>\n<\/td>\n | \n 214<\/i><\/p>\n<\/td>\n | \n 221<\/i><\/p>\n<\/td>\n | \n (3%)<\/i><\/p>\n<\/td>\n | \n 230<\/i><\/p>\n<\/td>\n | \n (7%)<\/i><\/p>\n<\/td>\n | \n 217<\/i><\/p>\n<\/td>\n | \n 226<\/i><\/p>\n<\/td>\n | \n (4%)<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Ammonia<\/i><\/p>\n<\/td>\n | \n kT\/d<\/i><\/p>\n<\/td>\n | \n 1.8<\/i><\/p>\n<\/td>\n | \n 1.3<\/i><\/p>\n<\/td>\n | \n 38%<\/i><\/p>\n<\/td>\n | \n \u2014<\/i><\/p>\n<\/td>\n | \n \u2014%<\/i><\/p>\n<\/td>\n | \n 1.5<\/i><\/p>\n<\/td>\n | \n \u2014<\/i><\/p>\n<\/td>\n | \n \u2014%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Total<\/i><\/p>\n<\/td>\n | \n Mboe\/d<\/i><\/p>\n<\/td>\n | \n 454<\/i><\/p>\n<\/td>\n | \n 502<\/i><\/p>\n<\/td>\n | \n (10%)<\/i><\/p>\n<\/td>\n | \n 550<\/i><\/p>\n<\/td>\n | \n (17%)<\/i><\/p>\n<\/td>\n | \n 478<\/i><\/p>\n<\/td>\n | \n 548<\/i><\/p>\n<\/td>\n | \n (13%)<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Sales volumes10<\/sup><\/b><\/p>\n<\/td>\n| \n MMboe<\/b><\/p>\n<\/td>\n | \n 48.0<\/b><\/p>\n<\/td>\n | \n 51.7<\/b><\/p>\n<\/td>\n | \n (7%)<\/b><\/p>\n<\/td>\n | \n 54.5<\/b><\/p>\n<\/td>\n | \n (12%)<\/b><\/p>\n<\/td>\n | \n 99.8<\/b><\/p>\n<\/td>\n | \n 104.8<\/b><\/p>\n<\/td>\n | \n (5%)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Gas<\/i><\/p>\n<\/td>\n | \n MMscf\/d<\/i><\/p>\n<\/td>\n | \n 1,672<\/i><\/p>\n<\/td>\n | \n 2,016<\/i><\/p>\n<\/td>\n | \n (17%)<\/i><\/p>\n<\/td>\n | \n 2,056<\/i><\/p>\n<\/td>\n | \n (19%)<\/i><\/p>\n<\/td>\n | \n 1,843<\/i><\/p>\n<\/td>\n | \n 2,012<\/i><\/p>\n<\/td>\n | \n (8%)<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Liquids<\/i><\/p>\n<\/td>\n | \n Mbbl\/d<\/i><\/p>\n<\/td>\n | \n 227<\/i><\/p>\n<\/td>\n | \n 218<\/i><\/p>\n<\/td>\n | \n 4%<\/i><\/p>\n<\/td>\n | \n 238<\/i><\/p>\n<\/td>\n | \n (5%)<\/i><\/p>\n<\/td>\n | \n 223<\/i><\/p>\n<\/td>\n | \n 226<\/i><\/p>\n<\/td>\n | \n (1%)<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Ammonia<\/i><\/p>\n<\/td>\n | \n kT\/d<\/i><\/p>\n<\/td>\n | \n 2.1<\/i><\/p>\n<\/td>\n | \n 0.8<\/i><\/p>\n<\/td>\n | \n 163%<\/i><\/p>\n<\/td>\n | \n \u2014<\/i><\/p>\n<\/td>\n | \n \u2014%<\/i><\/p>\n<\/td>\n | \n 1.4<\/i><\/p>\n<\/td>\n | \n \u2014<\/i><\/p>\n<\/td>\n | \n \u2014%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Total<\/i><\/p>\n<\/td>\n | \n Mboe\/d<\/i><\/p>\n<\/td>\n | \n 528<\/i><\/p>\n<\/td>\n | \n 575<\/i><\/p>\n<\/td>\n | \n (8%)<\/i><\/p>\n<\/td>\n | \n 599<\/i><\/p>\n<\/td>\n | \n (12%)<\/i><\/p>\n<\/td>\n | \n 551<\/i><\/p>\n<\/td>\n | \n 579<\/i><\/p>\n<\/td>\n | \n (5%)<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Average realised price<\/b><\/p>\n<\/td>\n | \n $\/boe<\/b><\/p>\n<\/td>\n | \n 85<\/b><\/p>\n<\/td>\n | \n 63<\/b><\/p>\n<\/td>\n | \n 35%<\/b><\/p>\n<\/td>\n | \n 59<\/b><\/p>\n<\/td>\n | \n 44%<\/b><\/p>\n<\/td>\n | \n 74<\/b><\/p>\n<\/td>\n | \n 62<\/b><\/p>\n<\/td>\n | \n 19%<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Capital expenditure and acquisitions<\/b><\/p>\n<\/td>\n | \n $ million<\/b><\/p>\n<\/td>\n | \n 784<\/b><\/p>\n<\/td>\n | \n 1,323<\/b><\/p>\n<\/td>\n | \n (41%)<\/b><\/p>\n<\/td>\n | \n 752<\/b><\/p>\n<\/td>\n | \n 4%<\/b><\/p>\n<\/td>\n | \n 2,107<\/b><\/p>\n<\/td>\n | \n 2,558<\/b><\/p>\n<\/td>\n | \n (18%)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Capital expenditure11<\/sup><\/b><\/i><\/p>\n<\/td>\n| \n $ million<\/i><\/p>\n<\/td>\n | \n 784<\/i><\/p>\n<\/td>\n | \n 853<\/i><\/p>\n<\/td>\n | \n (8%)<\/i><\/p>\n<\/td>\n | \n 752<\/i><\/p>\n<\/td>\n | \n 4%<\/i><\/p>\n<\/td>\n | \n 1,637<\/i><\/p>\n<\/td>\n | \n 2,558<\/i><\/p>\n<\/td>\n | \n (36%)<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Acquisitions<\/i><\/p>\n<\/td>\n | \n $ million<\/i><\/p>\n<\/td>\n | \n \u2014<\/i><\/p>\n<\/td>\n | \n 470<\/i><\/p>\n<\/td>\n | \n (100%)<\/i><\/p>\n<\/td>\n | \n \u2014<\/i><\/p>\n<\/td>\n | \n \u2014%<\/i><\/p>\n<\/td>\n | \n 470<\/i><\/p>\n<\/td>\n | \n \u2014<\/i><\/p>\n<\/td>\n | \n \u2014%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n Operations<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Pluto LNG<\/b><\/p>\n\n- \nAchieved quarterly LNG reliability of 97.6%.<\/p>\n<\/li>\n
- \nSuccessfully executed the planned maintenance in May 2026 on budget and schedule. This included key integration scopes for the Scarborough Energy Project.<\/p>\n<\/li>\n
- \nPreparing for start-up of the XNA-03 infill well, targeted for H2 2026.<\/p>\n<\/li>\n<\/ul>\n
North West Shelf (NWS) Project<\/b><\/p>\n\n- \nAchieved quarterly LNG reliability of 97.8%.<\/p>\n<\/li>\n
- \nApproved the drilling rig contract for the Greater Western Flank Phase 4 Project with drilling targeted to commence in Q2 2027, and production targeted in 2028.<\/p>\n<\/li>\n
- \nContinued preparation for the scheduled single train LNG planned maintenance targeting commencement in September 2026.<\/p>\n<\/li>\n<\/ul>\n
Wheatstone and Julimar-Brunello<\/b><\/p>\n\n- \nCompleted subsea construction for the Julimar Development Phase 3 project, with start-up targeted for H2 2026.<\/p>\n<\/li>\n
- \nLNG production at Wheatstone was impacted following an unplanned outage caused by Severe Tropical Cyclone Narelle. Repairs were completed in April 2026.<\/p>\n<\/li>\n
- \nCommenced decommissioning of three Julimar-Brunello exploration wells, with completion a condition precedent for the asset swap with Chevron.<\/p>\n<\/li>\n
- \nCompletion of the asset swap with Chevron is targeted for Q4 2026.12<\/sup> Completion of the transaction will streamline Woodside\u2019s operations and consolidate focus on our operated LNG assets.<\/p>\n<\/li>\n<\/ul>\n
Bass Strait<\/b><\/p>\n\n- \nAchieved reliability of 92% during the quarter.<\/p>\n<\/li>\n
- \nCompleted planned shutdowns of the Marlin A and Marlin B platforms.<\/p>\n<\/li>\n
- \nCompleted drilling of the remaining three wells for the Turrum Phase 3 Project, completing the five-well drilling program. The wells will now undergo completion activities with first production targeted for H1 2027.<\/p>\n<\/li>\n
- \nSubsequent to the period, completed the transfer of operatorship of the Gippsland Basin assets from ExxonMobil to Woodside on 1 July 2026, following the satisfaction of the conditions precedent to the transaction.<\/p>\n<\/li>\n<\/ul>\n
Other Australia<\/b><\/p>\n\n- \nThe Okha FPSO completed scheduled shipyard activities as planned. Assessment and remediation planning are underway following identification of a subsea mooring system defect during routine inspection, with production yet to resume.<\/p>\n<\/li>\n
- \nOil production at the Pyrenees FPSO was impacted following damage caused by Severe Tropical Cyclone Narelle. The FPSO safely reconnected and production partially resumed, with assessment ongoing to support a return to full production.<\/p>\n<\/li>\n<\/ul>\n
Sangomar<\/b><\/p>\n\n- \nAchieved an average daily production rate of 99 Mbbl\/d (100% basis, 86 Mbbl\/d Woodside share) with reliability of 99.3%.13<\/sup><\/li>\n
- \nReservoir performance continues to exceed expectations, particularly in the lower S500 reservoirs. This has been the result of greater than anticipated aquifer pressure support which, together with rigorous well and network optimisation, enabled an extended initial plateau and some mitigation of decline rates now being experienced.<\/p>\n<\/li>\n
- \nEvaluation continued for a potential Phase 2 development targeting the upper S400 reservoirs.<\/p>\n<\/li>\n
- \nEngagements with Petrosen and the government on a potential Phase 2 development are ongoing.<\/p>\n<\/li>\n<\/ul>\n
Gulf of America<\/b><\/p>\n\n- \nAchieved continued high reliability at Shenzi of 99.2%.<\/p>\n<\/li>\n<\/ul>\n
Beaumont New Ammonia<\/b><\/p>\n\n- \nAchieved reliability of 92.2% during the quarter, following Woodside\u2019s assumption of operational control from OCI at the end of the first quarter.<\/p>\n<\/li>\n
- \nProduction was constrained to approximately 69% of nameplate capacity due to third-party feedstock availability. Interim feedstock arrangements are expected to remain in place into 2027, pending progress on long-term third-party feedstock infrastructure.<\/p>\n<\/li>\n
- \nCommencement of lower-carbon ammonia production remains targeted for 2027, subject to commissioning of Linde\u2019s low-carbon hydrogen facilities and start-up of ExxonMobil\u2019s CCS infrastructure, including approval of the relevant CCS permitting process.<\/p>\n<\/li>\n
- \nFor the period ended 30 June 2026, sales have been a combination of spot and term cargoes with 24% supplied to the domestic market and 76% to the international market.<\/p>\n<\/li>\n<\/ul>\n
\n\n| \n Marketing<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Revenue and trading<\/b><\/p>\n\n- \nLNG realised prices improved quarter-on-quarter as global LNG market prices strengthened due to supply constraints, and price lags from Q1 2026 were realised. Price lags from Q2 are expected to be realised in Q3.<\/p>\n<\/li>\n
- \nApproximately 21% of LNG sold was linked to gas hub indices during the quarter due to fewer volumes available as a result of the Pluto planned maintenance.<\/p>\n<\/li>\n
- \nGlobal supply interruptions continued in the quarter, supporting increased demand for crude products and strengthening prices.<\/p>\n<\/li>\n
- \nThe liquids portfolio (oil, condensate and liquids traded) outperformed market pricing through realised premiums.<\/p>\n<\/li>\n
- \nIn this quarter, marketing sales volumes, marketing revenue and trading costs increased due to higher third-party cargo purchases. These transactions were part of ongoing portfolio optimisation across multiple trades resulting in the redirection of Woodside cargoes. The realised value of these trading activities are expected in the future as these cargoes are delivered, causing fluctuations in earnings across reporting periods.<\/p>\n<\/li>\n<\/ul>\n
Shipping<\/b><\/p>\n\n- \nDelivered the Woodside Bilangara during the quarter to support the start-up of the Scarborough Energy Project.<\/p>\n<\/li>\n
- \nSigned five long-term charter parties for LNG carriers commencing in 2029 to support the Louisiana LNG Project.<\/p>\n<\/li>\n<\/ul>\n
Pipeline gas<\/b><\/p>\n\n- \nExecuted incremental pipeline gas sales of:<\/p>\n
\n- \n47.5 PJ to be delivered to the Western Australian market from 2027 to 2030, including a sale and purchase agreement for the supply of 31.1 PJ to Alcoa.<\/p>\n<\/li>\n
- \n38.9 PJ to be delivered to the East Coast market from 2026 to 2028.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
\n\n| \n Projects<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Scarborough Energy Project<\/b><\/p>\n\n- \nThe Scarborough and Pluto Train 2 projects remain on budget and were 98% complete at the end of the quarter (excluding Pluto Train 1 modifications).<\/p>\n<\/li>\n
- \nAll upstream infrastructure is now in place. The Floating Production Unit (FPU) and subsea production system commissioning activities continued.<\/p>\n<\/li>\n
- \nSubsequent to the period, the FPU achieved ready for start-up status and first gas was achieved from the Scarborough reservoir. The trunkline also achieved ready for start-up status, enabling the commencement of pressurisation of the trunkline from the FPU through to the onshore plant.<\/p>\n<\/li>\n
- \nContinued construction and commissioning activities at the Pluto Train 2 site, including completion of the gas turbine generator synchronisation with the Pluto site power grid and mechanical runs of three of the six liquefaction compressors.<\/p>\n<\/li>\n
- \nThe final module for the Pluto Train 1 modifications was shipped from the yard in Thailand and, subsequent to the quarter, arrived at the Pluto site.<\/p>\n<\/li>\n
- \nContinued civil, structural, piping and electrical works for Pluto Train 1 modifications at the Pluto site.<\/p>\n<\/li>\n
- \nMultiple integration scopes and tie-ins were successfully completed during the Pluto LNG Train 1 planned maintenance in May 2026.<\/p>\n<\/li>\n
- \nFirst LNG cargo is on track for Q4 2026.<\/p>\n<\/li>\n<\/ul>\n
Trion<\/b><\/p>\n\n- \nThe Trion Project remains on budget and was 64% complete at the end of the quarter.<\/p>\n<\/li>\n
- \nProgressed drilling campaign, drilling three wells of the 24\u2011well program which commenced in March.<\/p>\n<\/li>\n
- \nCommenced subsea equipment deliveries to Mexico, ahead of installation commencing in Q3 2026.<\/p>\n<\/li>\n
- \nCompleted lift of FPU topside modules onto the hull and commenced integration and pre-commissioning.<\/p>\n<\/li>\n
- \nContinued Floating Storage and Offloading structural block fabrication in dry dock.<\/p>\n<\/li>\n
- \nCompleted fabrication and testing of the disconnectable turret mooring buoy.<\/p>\n<\/li>\n
- \nThe Trion Project is targeting first oil in 2028.<\/p>\n<\/li>\n<\/ul>\n
Louisiana LNG<\/b><\/p>\n\n- \nThe Louisiana LNG Project remains on budget and was 28% complete at the end of the quarter.<\/p>\n<\/li>\n
- \nTrain 1 was 35% complete at the end of the quarter, with above-ground piping installation and structural steel erection progressed during the period.<\/p>\n<\/li>\n
- \nTrains 2 and 3 were 25% and 18% complete respectively at the end of the quarter, with structural steel erection commenced for Train 2 and concrete pilings progressed for Train 3.<\/p>\n<\/li>\n
- \nAwarded a services contract valued at more than $300 million for the construction of four tug boats for Louisiana LNG operations, taking total committed spend with Louisiana suppliers beyond $1 billion.<\/p>\n<\/li>\n
- \nOngoing disruptions through the Strait of Hormuz continue to challenge structural steel delivery from Bechtel\u2019s fabrication facility in the United Arab Emirates. Mitigation measures are being implemented, including alternative logistics routes and fabrication sources, to support continuity of steel supply and maintain planned construction schedules beyond 2026.<\/p>\n<\/li>\n
- \nOngoing engagement with high-quality counterparties for equity participation and LNG offtake continues.<\/p>\n<\/li>\n
- \nThe project is targeting first LNG in 2029.<\/p>\n<\/li>\n<\/ul>\n
Hydrogen Refueller @H2Perth<\/b><\/p>\n\n- \nSuccessfully completed leak testing and cold commissioning activities.<\/p>\n<\/li>\n
- \nCommissioning activities continue on site, with ready for start-up now targeted for Q3 2026 and first hydrogen production expected in H2 2026.14<\/sup><\/li>\n<\/ul>\n
\n\n| \n Decommissioning<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n- \nCommenced plug and abandonment (P&A) of eight subsea wells including five North West Shelf Gas wells and three Julimar-Brunello exploration wells.<\/p>\n<\/li>\n
- \nCompleted the Enfield field seabed survey and analysis campaign.<\/p>\n<\/li>\n
- \nContinued offshore decommissioning at Stybarrow with recovery of flexible flowlines, and progressed technical and planning studies across the Stybarrow, Griffin and Minerva projects to support development of forward decommissioning work plans.<\/p>\n<\/li>\n
- \nProgressed well P&A activities at the Gippsland Basin Joint Venture with completion of plugging the West Kingfish and Cobia platform wells, and commencement of platform rig operations on Halibut and Tuna platforms.<\/p>\n<\/li>\n
- \nProgressed the Bass Strait Offshore Platform Removal Campaign 1 preparation activities, with the Environmental Plan accepted by the National Offshore Petroleum Safety and Environmental Management Authority and upgrades to the onshore reception centre at Barry Beach Marine Terminal commenced.<\/p>\n<\/li>\n<\/ul>\n
\n\n| \n Development and exploration<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Browse<\/b><\/p>\n\n- \nContinued engagement with regulators to progress environmental approvals. Submitted a revised Browse Carbon Capture and Storage (CCS) environmental referral to the Commonwealth regulator to allow it to be assessed under the amended Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act). Received a determination from the Federal Environment Minister that allows the Browse CCS Project to be assessed wholly under the EPBC Act. The resubmission does not reflect any significant changes to the nature, scope or intent of the Browse CCS project.<\/p>\n<\/li>\n
- \nSubsequent to the period, granted State Significant Project status under the Lead Agency Framework by the Western Australian State Government for the Browse to North West Shelf Project.<\/p>\n<\/li>\n<\/ul>\n
Sunrise<\/b><\/p>\n\n- \nContinued engagement by the Sunrise Joint Venture with the Governments of Timor-Leste and Australia to advance the fiscal and regulatory frameworks supporting the potential development of Sunrise.<\/p>\n<\/li>\n
- \nProgressed technical and commercial activities under the Timor\u2011Leste Cooperation Agreement to support maturation of a potential Timor\u2011based LNG concept.<\/p>\n<\/li>\n<\/ul>\n
Calypso<\/b><\/p>\n\n- \nWoodside\u2019s project evaluation continued to progress, including assessment of Calypso\u2019s relative value within Woodside\u2019s portfolio.<\/p>\n<\/li>\n
- \nFor the period ended 30 June 2026, impairment losses relating to the Calypso Project are expected. Refer to page 10 for further detail.<\/p>\n<\/li>\n<\/ul>\n
Exploration<\/b><\/p>\n\n- \nWoodside was awarded the two leases in the US Gulf of America where Woodside was the successful bidder from the Big Beautiful Gulf 2 Lease Sale held in March 2026.<\/p>\n<\/li>\n
- \nEntered into a non-binding memorandum of understanding with the Ag\u00eancia Nacional de Petr\u00f3leo, G\u00e1s e Biocombust\u00edveis to evaluate three blocks in the Benguela and Namibe basins offshore Angola.<\/p>\n<\/li>\n
- \nCompleted exit activities associated with the Marine XX licence in the Republic of Congo.<\/p>\n<\/li>\n<\/ul>\n
\n\n| \n New energy and carbon solutions<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n H2Perth<\/b><\/p>\n\n- \nIn May 2026, the EPA approved Woodside\u2019s application under section 43A of the Environmental Protection Act 1986 (WA) <\/i>to amend the proposal for the proposed H2Perth Project from its previous concept to a liquefied hydrogen only facility.<\/p>\n<\/li>\n<\/ul>\n
\n\n| \n Corporate activities<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Chair succession<\/b><\/p>\n\n- \nThe Woodside Board has a formal process underway to identify and appoint the Company’s next Chair, to replace Richard Goyder AO who has previously indicated his intention to retire at or before the end of his current term in 2027.<\/p>\n<\/li>\n
- \nThe selection process will be led by independent Non-executive Director Swee Chen Goh.<\/p>\n<\/li>\n
- \nThe Board will consider a range of factors in identifying and selecting the next Chair, including leadership capability and experience, governance expertise, strategic insight, stakeholder engagement expertise and the capacity to oversee the creation and maintenance of shareholder value by a global company.<\/p>\n<\/li>\n<\/ul>\n
Structured review<\/b><\/p>\n\n- \nThe structured review announced with the Q1 results is progressing. The review is focused on streamlining decision-making, reducing organisational complexity, and identifying efficiency opportunities whilst maintaining safe operational execution and performance.<\/p>\n<\/li>\n
- \nA further update on progress will be provided with the half-year results.<\/p>\n<\/li>\n<\/ul>\n
Browse Joint Venture pre-emption<\/b><\/p>\n\n- \nIn June Woodside exercised its pre-emption right to acquire CNPC’s 10.67% interest in the BJV. The terms of the transaction include a payment payable upon completion of $225 million plus reimbursement of CNPC’s BJV cash call contributions from 30 June 2025 to the date of completion, and a contingent payment of $175 million payable upon a final investment decision for the development of all of the Brecknock, Calliance and Torosa fields on or before 30 June 2032.15<\/sup><\/li>\n<\/ul>\n
Climate and sustainability<\/b><\/p>\n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |