LLMpediaThe first transparent, open encyclopedia generated by LLMs

Woodside Petroleum

Generated by DeepSeek V3.2
⚠Note: This article was automatically generated by a large language model (LLM) from purely parametric knowledge (no retrieval). It may contain inaccuracies or hallucinations. This encyclopedia is part of a research project currently under review.
Article Genealogy
Parent: Myanmar Hop 4
Expansion Funnel Raw 55 → Dedup 0 → NER 0 → Enqueued 0
1. Extracted55
2. After dedup0 (None)
3. After NER0 ()
4. Enqueued0 ()
Woodside Petroleum
Woodside Petroleum
source
NameWoodside Petroleum
TypePublic
Traded asWPL, WPL
IndustryOil and gas industry
Founded0 1954
Hq locationPerth, Western Australia
Key peopleRichard Goyder (Chairman), Meg O'Neill (CEO)
ProductsLNG, Crude oil, Natural gas
Websitewoodside.com

Woodside Petroleum. Woodside is a major Australian oil and gas exploration and production company, listed on the Australian Securities Exchange and the New York Stock Exchange. Its primary operational focus is on the development of liquefied natural gas (LNG) projects, with its headquarters located in Perth, Western Australia. The company holds significant interests in key Australian hydrocarbon basins and has expanded its portfolio through major international acquisitions.

History

The company was incorporated in 1954 as Woodside (Lakes Entrance) Oil Co. NL, initially exploring near Lakes Entrance in Victoria. A major turning point came in 1963 when it was awarded the original exploration permit for the North West Shelf off Western Australia. The discovery of the North Rankin gas field in 1971 by a joint venture including Shell and BP established the foundation for its future growth. Throughout the 1980s and 1990s, the company developed the massive North West Shelf Project, Australia's first LNG export venture, which began shipments to Japan in 1989. Under the leadership of CEOs like Don Voelte and Peter Coleman, the company transformed into a global LNG player, culminating in the 2022 merger with the petroleum assets of BHP.

Operations

The company's operations are centered on large-scale, integrated LNG production and export facilities. Its flagship operation is the North West Shelf Project, a joint venture with partners including Chevron, BP, and Mitsubishi. The Pluto LNG project, wholly operated and 90% owned by the company, commenced production in 2012. Following the merger with BHP's petroleum division, it also assumed operatorship of the Greater Sunrise gas fields in the Timor Sea and acquired a significant stake in the Scarborough Gas Field. The company manages a global trading and marketing portfolio, supplying LNG to markets across Asia, including key customers in Japan, China, and South Korea.

Assets and projects

The company's core producing assets include the North West Shelf Project, the Pluto LNG facility on the Burrup Peninsula, and the Wheatstone LNG project, operated by Chevron. Its major development project is the Scarborough Gas Field development, which will be processed through a second train at the Pluto LNG facility. Other significant interests include the Browse Basin development, the Greater Sunrise gas fields, and the Shenzi oil field in the Gulf of Mexico. The company also holds exploration acreage in emerging regions such as Senegal, Mauritania, and Mexico, following its international expansion.

Corporate affairs

The company is led by Chairman Richard Goyder, former CEO of Wesfarmers, and Chief Executive Officer Meg O'Neill. Its primary listings are on the Australian Securities Exchange under the symbol WPL and on the New York Stock Exchange. Major shareholders include institutional investors like BlackRock and Vanguard. The company maintains several strategic joint ventures, notably with Chevron, BP, Shell, and Mitsui. Its corporate headquarters are located in Perth, with major offices in Houston, Singapore, and London to support its global operations.

Environmental and social impact

The company's operations, particularly its LNG projects, face scrutiny regarding greenhouse gas emissions and their role in climate change. It has set targets to achieve net-zero emissions by 2050 and invests in emerging technologies like hydrogen and carbon capture and storage. Its activities on the Burrup Peninsula have been a point of contention with Indigenous groups, including the Murujuga Aboriginal Corporation, concerning cultural heritage protection. The company engages in social investment programs in regions where it operates, such as Western Australia and Timor-Leste, and reports under frameworks set by the Task Force on Climate-related Financial Disclosures (TCFD).

Category:Oil and gas companies of Australia Category:Companies listed on the Australian Securities Exchange Category:Companies based in Perth, Western Australia