Woodside Energy Group Ltd Announces Fourth Quarter 2022 Report

PERTH, AUSTRALIA / ACCESSWIRE / January 24, 2023 /

WOODSIDE ENERGY GROUP LTD FOURTH QUARTER REPORT FOR PERIOD ENDED 31 DECEMBER 2022

Delivering reliable production

· Delivered record quarterly production of 51.6 MMboe (561 Mboe/day), up 0.7% from Q3 2022.

· Delivered sales volume of 52.2 MMboe, down 8.5% from Q3 2022, primarily due to reduced

· third-party trades.

· Delivered revenue of $5,160 million, down 12.0% from Q3 2022, impacted by reduced trading activity and lower realised prices.

· Achieved a portfolio average realised price of $98 per barrel of oil equivalent.

· Sold 29% of produced LNG at prices linked to gas hub indices (23% full year 2022).

· Achieved record full-year 2022 production of 157.7 MMboe, outperforming the production guidance of 153 - 157 MMboe due to strong operational performance in the fourth quarter.

Executing major projects

· The Scarborough and Pluto Train 2 projects in Western Australia are now 25% complete, with manufacturing of the export trunkline 59% complete and the commencement of module construction for Pluto Train 2.

· Development drilling program progressed on Sangomar with seven of 23 wells complete. The Sangomar FPSO was successfully relocated to Singapore to complete topsides integration, pre-commissioning and commissioning activities.

Investing in growth

· Issued multiple competitive tenders for Trion to support 2023 FID readiness.

· FEED was completed at H2OK and long-lead items were ordered to support 2023 FID readiness.

· Selected as the preferred partner to progress to the next stage of the proposed Southern Green Hydrogen project in New Zealand.

Woodside CEO Meg O'Neill said production in the fourth quarter was a record 51.6 million barrels of oil equivalent (boe).

"The result lifted output for calendar 2022 to 157.7 million boe, surpassing guidance and marking the highest annual production in Woodside's history.

"Consistent strong operational performance and favourable operating conditions across the combined portfolio was a key driver in achieving record quarterly and full-year production.

"Reliability at our Australian operated assets was exceptional with Pluto LNG and the North West Shelf (NWS) Project both achieving 98.3% reliability for the quarter. During the quarter, Woodside celebrated a milestone at Pluto LNG, passing 50 million tonnes of LNG production since the facility started up in 2012. Internationally, asset performance was boosted by completion of planned turnaround work.