Our story

A proud history, a positive future

Founded in 1954, Woodside established the liquefied natural gas (LNG) industry in Australia 40 years ago and today supplies a growing base of customers. Seventy years on, Woodside continues to be driven by a spirit of innovation and determination.

ABOUT US

We are a global energy company, providing reliable and affordable energy to help people lead better lives.

The world needs energy that is affordable, reliable and lower carbon to support a successful energy transition. We provide energy to heat and cool homes, keep lights on and support industry.

We aim to thrive through the global energy transition with a low cost, lower carbon, profitable, resilient and diversified portfolio.1

The merger with BHP’s petroleum business has increased the scale and diversification of our global portfolio, which includes oil and gas assets and interests in Australia, the Gulf of Mexico, the Caribbean, Senegal, and Timor-Leste. We also have a focused exploration program.

Our focus in operations remains on safety, reliability, efficiency and environmental performance, leveraging more than 40 years of operating experience.

1 For Woodside, a lower carbon portfolio is one from which the net equity Scope 1 and 2 greenhouse gas emissions, which includes the use of offsets, are being reduced towards targets, and into which new energy products and lower carbon services are planned to be introduced as a complement to existing and new investments in oil and gas. Our Climate Policy sets out the principles that we believe will assist us achieve this aim.

 

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Woodside is celebrating its 70th anniversary as an Australian company. Our business was first incorporated on the 26th July 1954 and has grown from strength to strength ever since.

Our projects and growth opportunities

We have growth opportunities across gas, oil, and new energy.

Woodside has several projects currently in execution phase. The Scarborough and Pluto Train 2 projects in Australia achieved a positive final investment decision (FID) in November 2021 and are targeting first LNG cargo in 2026. In Senegal, work on the Sangomar Field Development commenced in early 2020, Woodside achieved first oil production in June 2024. In the United States Gulf of Mexico, Shenzi North, a brownfield expansion of the Shenzi oil project, is targeting first oil in 2024 and development of the southern flank of the Mad Dog field production was successfully achieved in April 2023. Woodside completed front-end engineering design for the Trion oil project in 2022. In June 2023, an FID was taken on this project.

Our marketing, trading and shipping activities enable us  to supply a diverse range of customers from our recently  expanded global portfolio.

Our approach to climate and sustainability

Woodside's climate strategy is integrated throughout our company strategy: our aspiration to thrive through the energy transition with a low cost, lower carbon, profitable, resilient and diversified portfolio1

 

Our climate strategy contains two key elements:

  • reducing our net equity Scope 1 and 2 greenhouse gas emissions and
  • investing in products and services for the energy transition.

Each element of our strategy is supported by the detail in our Climate Transition Action Plan and 2023 Progress Report which is expected to continue to evolve over time, and will be updated in future disclosures.

See our Climate page for further information.

We apply a sustainability mindset to guide decision making at all levels of the business

We have elevated summary disclosures of our material sustainability topics to the Annual Report, retired the publication of a standalone annual Sustainable Development Report and included additional information on our website. We refreshed our Sustainability Strategy in 2023, to incorporate relevant sustainability-related risks and opportunities and reflect the direction of our business. The Sustainability Strategy supports our Corporate Strategy and places an increased focus on those sustainability topics most relevant to our current business activities and the communities where we are active.

See our sustainability strategy and plan for further information. 

Timeline

A history of achievement

Our proven track record and distinctive capabilities are underpinned by more than 70 years of experience.

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  • 1954 - Woodside registered

    Woodside (Lakes Entrance) Oil Co. NL is registered and adopts the name of the town of Woodside in Victoria, Australia which is close to its oil leases.

    Jul 1954

  • 1956 - Woodside secures first permit

    Woodside secured the first offshore exploration license to be granted in Victoria: a 2600sqkm stretch off Ninety Mile Beach that extended 2km into Bass Strait, off southern Australia.

    Jan 1956

  • 1957 - World-record water depth drill

    Woodside drills to world-record water depths in the Bass Strait off southern Australia.

    Jan 1957

  • 1963 - WA coast permit acquired

    Woodside pays £100 for a permit to explore 370,000km2 off the Western Australian coast, resulting in the formation of the original North West Shelf Venture between the Burmah Oil Company of Australia, Shell Development Australia and Woodside.

    Jan 1963

  • 1964 - first NWS aeromagnetic surveys

    The first aeromagnetic surveys are conducted over the North West Shelf.

    Jan 1964

  • 1968 - Legendre Discovery

    Woodside finds first oil at the Legendre field on the North West Shelf.

    Jan 1968

  • 1971 - Scott Reef, North Rankin, Angel Discoveries

    Woodside makes major gas and condensate discoveries at Scott Reef, north of Broome, and at North Rankin and Angel, north of Karratha on the North West Shelf.

    Jan 1971

  • 1972 - Goodwyn Discovered

    The Goodwyn gas and condensate field is discovered, west of North Rankin on the North West Shelf. The North West Shelf fields provided the basis of the A$19 billion North West Shelf Project, then Australia's largest resource project.

    Jan 1972

  • 1973 - Lambert Discovery

    Woodside discovers the Lambert oil fields on the North West Shelf.

    Jan 1973

  • 1974 - Sunrise and Troubadour Discoveries

    The Sunrise and Troubadour gas fields are discovered in the Timor Sea, north-west of Darwin.

    Jan 1974

  • 1977 - North West Shelf agreement

    Woodside Executive Director Ric Charlton and WA Premier Sir Charles Court announce agreement on key terms and conditions for the North West Shelf Project.

    Jan 1977

  • 1979 - North West Shelf environmental approval

    State and Commonwealth governments give environmental approval for the commencement of the North West Shelf Gas Project. The Brecknock gas and condensate field is discovered adjacent to Scott Reef.

    Jan 1979

  • 1980 - NWS Domgas and Construction

    The North West Shelf Project participants sign the contracts for the long-term supply of gas to Western Australian customers. Construction starts at the onshore plant on the Burrup Peninsula, North Rankin A platform and the 134 km subsea pipeline to shore.

    Jan 1980

  • 1984 - First North Rankin gas received

    First gas is received onshore via the subsea trunkline from the North Rankin platform. North Rankin A is the world's largest fixed leg platform.

    Jan 1984

  • 1985 - North West Shelf Signing Marathon

    The North West Shelf Joint Venturers sign the formal liquefied natural gas (LNG) sales agreement with eight Japanese gas and power companies. Construction starts on the first two LNG processing trains, storage tanks and loading facilities at the Karratha onshore gas plant.

    Jan 1985

  • 1988 - Woodside cements Perth presence

    Woodside cements its Perth presence by opening a new purpose-built office at 1 Adelaide Terrace.

    Jan 1988

  • 1989 - First NWS LNG cargo to Tokyo

    The first LNG cargo from the North West Shelf Project arrives in Tokyo, Japan on board The Northwest Sanderling.

    Jan 1989

  • 1990 - Cossack and Yodel Discoveries

    The Woodside-operated North West Shelf Project discovers the Cossack oil field and the Yodel gas and condensate field.

    Jan 1990

  • 1992 - The Western Legend

    The Western Legend, one of the world's most sophisticated sesimic vessels of the day, began what was the biggest 3D seismic program ever undertaken in Australia.

    Jan 1992

  • 1994 - Laminaria oil field discovery

    Woodside discovers the Laminaria oil field in the Timor Sea.

    Jan 1994

  • 1999 - first oil, discovery, 1000th cargo

    The Laminaria field produces its first oil through the Northern Endeavour FPSO vessel. Woodside discovers the Enfield oil field in Western Australia. The North West Shelf Project delivers its 1000th LNG cargo to Japan.

    Jan 1999

  • 2000 - LNG expansion Letters of Intent

    The long-running negotiations with the Japanese LNG Buyers for a major expansion of the (NWS) LNG project accelerated towards a successful conclusion in late 2000 when the first of several Letters of Intent were signed with existing customers.

    Jan 2000

  • 2001 - green technologies

    Woodside builds a venture capital vehicle to invest in early stage green technologies.

    Jan 2001

  • 2002 - 25-year LNG contract

    The Woodside-operated North West Shelf Project wins a 25-year contract to supply LNG to China.

    Jan 2002

  • 2004 - Woodside moves to Woodside Plaza

    Woodside moves into new headquarters at 240 St Georges Terrace, Perth.

    Jan 2004

  • 2005 - Pluto Discovery

    Woodside discovers the Pluto gas field in the north-west of Western Australia.

    Jan 2005

  • 2006 - Nganhurra begins production

    The Nganhurra FPSO (Enfield) begins production.

    Jan 2006

  • 2007 - Pluto Construction

    Construction commences on Pluto LNG.

    Jan 2007

  • 2008 - 5th NWS train production

    2008 Woodside starts production from the fifth LNG processing train at the Karratha onshore gas plant. The Ngujima-Yin FPSO (Vincent) begins production.

    Jan 2008

  • 2009 - Angel, Donaldson

    The Woodside-operated North West Shelf Project commissions the Angel gas platform. Pluto LNG commissions the Woodside Donaldson LNG vessel.

    Jan 2009

  • 2011 - Okha FPSO

    The Okha FPSO is commissioned for the North West Shelf Project, replacing the Cossack Pioneer.

    Jan 2011

  • 2012 - Pluto begins production

    Woodside’s Pluto LNG begins production and delivers its first cargo to Japan. The North West Shelf Project delivers its 3500th LNG cargo.

    Jan 2012

  • 2013 - redevelopment, vessels

    The North Rankin Redevelopment Project achieves start-up, with a second facility installed alongside the existing North Rankin A platform on the North West Shelf. Pluto LNG commissions the Woodside Rogers LNG vessel.

    Jan 2013

  • 2014 - Anniversaries

    Woodside celebrates its 60th anniversary. The North West Shelf Project marks 30 years of domestic gas production and 25 years of LNG exports.

    Jan 2014

  • 2018 - Mia Yellagonga

    Woodside moves to our state-of-the-art new headquarters, including a 31-storey office tower with campus-style facilities, close to the Swan River and Kings Park.

    Jan 2018

  • 2020 - Sangomar Field Development Approved

    Woodside took an unconditional final investment decision (FID) for Sangomar Field Development Phase 1 and execution phase activities commenced.

    Jan 2020

  • 2020 - NWS Project Participants Execute Gas Processing Agreements

    The NWS Project participants executed fully-termed gas processing agreements for processing third-party gas through the NWS Project facilities.

    Dec 2020

  • 2021 - Scarborough and Pluto Train 2 achieve FID

    Final investment decisions (FID) were approved for the Scarborough and Pluto Train 2 projects, including the construction of new domestic gas facilities.

    Nov 2021

  • 2021 - Secured land for hydrogen projects

    Secured land for the H2Perth and H2TAS hydrogen and ammonia projects in Australia.

    Nov 2021

  • 2022 - Woodside and BHP Petroleum merge

    1 June 2022, Woodside and BHP Petroleum merged to create a new chapter as a global energy company.

    Jun 2022

  • 2023 - Woodside approves investment in Trion development

    Woodside made a final investment decision to develop the large, high-quality Trion resource in Mexico. The expected returns from the development exceed Woodside’s capital allocation framework targets and deliver enduring shareholder value. First oil is targeted for 2028.

    Jun 2023

  • 2024 - Woodside achieves first oil at Sangomar in Senegal

    Woodside achieved first oil from the Sangomar field offshore Senegal, marking the safe delivery of the country’s first offshore oil project

    Jun 2024

  • 2024 - Celebrating 70 years

    Woodside celebrates its 70th anniversary. The North West Shelf Project marks 40 years of domestic gas production and 35 years of LNG exports.

    Jul 2024
Last updated: 21/10/2024 10:50:20 PM