Woodside Power Group Ltd mentioned Monday its confirmed and possible (2P) reserves grew final 12 months, with three billion barrels of oil equal (Bboe) remaining at yearend.
The Australian liquefied pure gas-focused producer had remaining confirmed reserves (1P) of 1.88 Bboe and 2C contingent assets of 5.8 Bboe on the finish of 2025, it mentioned in a inventory submitting.
“Excluding divestments and manufacturing, proved reserves elevated by 134.1 MMboe [million boe], and proved plus possible reserves elevated by 141.0 MMboe, reflecting one other 12 months of sturdy efficiency from the portfolio”, Woodside mentioned.
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It produced 211.4 MMboe in 2025, consisting of 197.7 MMboe on the market and 13.7 MMboe consumed as gas in operations, in response to the regulatory disclosure.
Woodside’s sale of manufacturing oil and gasoline belongings in Higher Angostura in Trinidad and Tobago to Perenco resulted in decreases of 16.3 MMboe in 1P developed reserves, 22.3 MMboe in 2P developed reserves and 19.6 MMboe in 2C assets.
In the meantime, “[r]eservoir efficiency and technical updates throughout belongings in Australia, Senegal and the USA resulted in proved reserves will increase of 104.0 MMboe and proved plus possible reserves will increase of 86.0 MMboe”, Woodside mentioned.
“Distinguished drivers included technical updates at Pluto [in Australia] following manufacturing efficiency that exceeded expectations, and continued sturdy efficiency at Sangomar [in Senegal] together with reserving of reserves related to water injection for the S400 reservoirs”, it added. “These updates replicate ongoing reservoir surveillance and robust operational efficiency throughout Woodside’s core producing belongings.
“Sanctioning of initiatives resulted in proved reserves improve of 30.1 MMboe and proved plus possible improve of 55.0 MMboe. This included closing funding selections on Higher Western Flank 4 (North West Shelf), Turrum Part 3 (Bass Strait) and Atlantis main services enlargement and demonstrated Woodside’s dedication to advancing high-value developments that help long-term manufacturing.
“Woodside has a proved reserves lifetime of 8.9 years and a proved plus possible reserves lifetime of 14.2 years at 2025 manufacturing ranges”.
1P undeveloped reserves at yearend 2025 totaled 1.24 Bboe. Western Australia’s Scarborough gasoline area accounted for 964 MMboe, representing 5.49 trillion cubic ft of gasoline.
The Scarborough Power Mission is on monitor to start out exporting LNG by the tip of 2026, Woodside affirmed January 28 in its This fall 2025 report. The challenge contains the event of the Scarborough area off the coast of Karratha, the development of a second gasoline processing prepare for Pluto LNG with a capability of 5 million metric tons every year (MMtpa) and modifications to Pluto Prepare 1, in response to Woodside.
The U.S. contributed 34.4 MMboe to Woodside’s 1P undeveloped reserves at yearend 2025, together with 31.4 million barrels of oil and condensate via the Atlantis, Mad Canine and Shenzi fields.
“The additions to proved and possible reserves replicate disciplined funding selections and technical excellence throughout our international operations”, mentioned appearing chief government Liz Westcott.
“These outcomes mixed with our closing funding determination on Louisiana LNG underpin our capacity to ship sustained money stream and long-term worth for shareholders whereas progressing initiatives that meet rising power demand”.
On April 30, 2025 Woodside introduced a closing funding determination (FID) on Louisiana LNG, previously Driftwood LNG, with a projected gross capital spend of $17.5 billion.
The Gulf Coast challenge holds a allow from the U.S. Division of Power (DOE) to export a cumulative 1.42 trillion cubic ft a 12 months of pure gasoline equal, or 27.6 MMtpa of LNG, to each nations with a free commerce settlement (FTA) with the U.S. and non-FTA nations.
The FID is for part 1, which includes three liquefaction trains with a mixed capability of 16.5 MMtpa.
This 12 months, Woodside expects a manufacturing slowdown, placing steering at 172-186 MMboe. The projected decline is because of downtime from preparations to start out up the Scarborough Power Mission, in response to the corporate’s This fall report.
To contact the writer, e-mail jov.onsat@rigzone.com
