Woodside Energy reported robust operational and project milestones for the third quarter of 2025, delivering a 1 per cent increase in production compared to the previous quarter and providing an optimistic update on its full-year outlook.
The company produced 50.8 million barrels of oil equivalent (MMboe), averaging 552 thousand barrels per day (Mboe/d), and revised its 2025 production guidance upward to 192–197 MMboe.
Sangomar continued to excel with production reaching 99 thousand barrels per day (Mbbl/d) on a 100 per cent basis, equating to an 82 Mbbl/d share for Woodside.
This asset alone generated $477 million in revenue during the quarter.
The Pluto LNG facility achieved 100 per cent operational reliability, underscoring the strength of Woodside’s Australian portfolio.
Key projects progressed well throughout the quarter.
The Scarborough Energy Project is now 91 per cent complete and remains on track to deliver its first LNG in the second half of 2026.
Three additional development wells were drilled, meeting reservoir and well deliverability expectations, and pre-commissioning of subsea infrastructure was completed.
The Beaumont New Ammonia Project has reached 97 per cent completion, targeting initial ammonia production by late 2025.
Meanwhile, construction on the Louisiana LNG Project, consisting of three trains, is 19 per cent complete with significant workforce mobilisation.
Train 1 alone is 25 per cent finished and aiming for first LNG output in 2029.
The project received strong support evidenced by a groundbreaking ceremony attended by government officials and local community members.
Woodside’s business portfolio also expanded with the receipt of final environmental approval from the Australian government for the North West Shelf Project Extension.
This regulatory green light secures operations beyond 2030, allowing for increased resource recovery and enhanced gas processing capabilities under rigorous conditions.
Additionally, Woodside agreed to take over operatorship of the Bass Strait assets, unlocking further potential gas resource development.
The company concluded the divestment of the Greater Angostura assets, securing $259 million in cash proceeds.
It also inked long-term gas supply agreements with PETRONAS and BOTAŞ, positioning to supply Malaysia and Turkey with significant LNG volumes through 2043.
Financially, Woodside lowered its unit production cost guidance to $7.6–8.1 per barrel of oil equivalent, reflecting efficiencies across Sangomar and US assets.
Capital expenditure, excluding the Louisiana LNG Project, is now expected at $3.7–4 billion, slightly below earlier forecasts due to the timing of sustaining capital and Scarborough spending.
Woodside CEO Meg O’Neill commented: “Woodside delivered increased quarterly production of 51 million barrels of oil equivalent.
“Sangomar maintained its exceptional performance, producing 99 thousand barrels of oil per day at 98.2 per cent reliability.
“Our Australian assets also demonstrated outstanding reliability of 100 per cent at Pluto LNG and 99.9 per cent at the North West Shelf Project.”
Woodside CEO Meg O’Neill said the company strengthened its Australian portfolio through major project approvals and progress across multiple developments.
She noted that receiving final environmental approval for the North West Shelf Project Extension delivered greater certainty for long‑term operations and ongoing energy supply.
The decision to assume operatorship of the Bass Strait assets was described as a key step in advancing domestic gas opportunities and consolidating Woodside’s operational footprint in Australia.
O’Neill emphasised that Woodside continued to execute its global growth projects safely, on schedule, and within budget.
The Scarborough Energy Project advanced to 91 per cent completion and remains on track to achieve first LNG output in the second half of 2026.
At Beaumont, the New Ammonia Project reached 97 per cent completion, with commissioning underway and first production expected in late 2025.
Construction of the Louisiana LNG Project climbed to 19 per cent, with more than 1,000 personnel now on site and strong government and community backing in the United States.
She added that customer demand for LNG continues to grow, supported by long‑term supply agreements with PETRONAS and BOTAŞ, while Woodside’s collaboration with Japan Suiso Energy and Kansai Electric Power Co. will help advance hydrogen export opportunities from Western Australia.
Woodside’s combination of strong operational delivery, project progress, and strategic partnerships positions the company to sustain momentum into 2026 and beyond, delivering value to shareholders while supporting global energy transition goals.
