Woodside Energy
An Australian petroleum exploration and production company and major international liquefied natural gas supplier.
Last updated November 3, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
Woodside Energy Group Ltd is an Australian petroleum exploration, development and production company headquartered in Perth, Western Australia. Formerly known as Woodside Petroleum Ltd, it is one of Australia’s largest independent oil and gas businesses and a major operator of liquefied natural gas projects. Its portfolio spans natural gas, LNG, crude oil and condensate, with operations and interests in Australia and selected overseas markets. The company was incorporated in 1954 as Woodside (Lakes Entrance) Oil Co NL. Its early exploration focused on Victoria’s Gippsland Basin, but the company struggled to attract capital after initial exploration produced limited results. A strategic change came in the early 1960s, when chief geologist Nicholas Boutakoff directed attention toward offshore Western Australia. Woodside subsequently became part of the original North West Shelf Venture with Shell and Burmah Oil, later replaced by BHP. The North West Shelf became the foundation of Woodside’s LNG business and established the company as a central participant in the development of Australia’s gas-export industry. Woodside’s Australian activities include the North West Shelf and Pluto LNG projects, offshore oil developments near Exmouth, Western Australia, and the Scarborough gas project. The company has also been involved in the Greater Sunrise gas development in the Timor Sea and has pursued further international exploration and development opportunities. Its business model combines upstream exploration and production with ownership or operation of infrastructure used to process and export hydrocarbons. In 2022, Woodside completed a major merger with BHP’s petroleum business. The transaction materially expanded Woodside’s producing assets and international portfolio, and the combined company began trading on the New York Stock Exchange and London Stock Exchange in addition to its Australian listing. In 2024, Woodside announced proposed acquisitions involving Tellurian and a Texas blue-ammonia project, reflecting an effort to broaden its energy portfolio while maintaining a focus on gas and LNG. Woodside has faced sustained scrutiny over the climate impact of new gas developments, emissions associated with the proposed Burrup Hub, Scarborough and Pluto projects, Indigenous heritage and consultation issues on the Burrup Peninsula, worker conditions, environmental incidents, decommissioning obligations, and its historical involvement in Mauritania and Timor-Leste. The company presents gas and LNG as important to energy security and, in some markets, as a lower-carbon alternative to coal. Critics argue that large new fossil-fuel projects are inconsistent with the Paris Agreement’s temperature goals and that corporate climate claims should be assessed against the full lifecycle emissions of Woodside’s products.
History
Woodside was incorporated on 26 July 1954 as Woodside (Lakes Entrance) Oil Co NL. It took its name from Woodside, Victoria, and was promoted by accountant Rees Withers, whose firm worked with small Gippsland exploration companies. The young company initially faced difficulties raising funds because its first exploration efforts did not produce an immediate commercial discovery. Stockbroker Geoff Donaldson, who had underwritten the original offer, became chairman in 1956 and helped preserve the company’s continuity. During its first years Woodside concentrated on Victoria’s Gippsland Basin, the location of Australia’s first oil field. In 1962, the appointment of chief geologist Nicholas Boutakoff redirected exploration toward Western Australia. Boutakoff argued that the North West Shelf had significant petroleum potential, and Woodside applied for exploration licences covering a large offshore area. The company then joined Shell and Burmah Oil in the original North West Shelf Venture. BHP later replaced Burmah. The venture’s gas discoveries, processing facilities and export infrastructure transformed Woodside from a small exploration company into a major Australian energy producer. Corporate relationships with Shell and BHP changed over time. In 1985, Shell and BHP each held 40 percent of Woodside. BHP reduced its holding to 10 percent in 1990 and sold its remaining shares in 1994. Shell subsequently reduced its stake, retaining 34 percent for a period, then 24 percent after a 2010 sale, before disposing of its remaining shares in 2017. Woodside moved its head office from Melbourne to Perth in 1995, reflecting the increasing importance of Western Australia to its business. The North West Shelf and later Pluto LNG projects established Woodside as a significant LNG operator. Development around the Burrup Peninsula, including the Karratha Gas Plant and Pluto facilities, also generated disputes concerning Traditional Owner participation, protection of ancient rock art and the environmental consequences of industrial development. In 1998, Woodside and North West Shelf joint-venture participants executed a retrospective Indigenous Land Use Agreement involving the Ngarluma Yindjibarndi Foundation. Woodside is also party to the Burrup and Maitland Industrial Estates Agreement, whose Traditional Owner parties are represented by the Murujuga Aboriginal Corporation. Woodside expanded into oil production offshore Western Australia through developments including Enfield, Vincent and Pyrenees. It also became operator of the Greater Sunrise development in the Timor Sea, a long-running project involving Australia and Timor-Leste. The company’s overseas activities have included interests in Africa, North America, Asia and Europe. Its international history has included controversy, particularly around the Chinguetti oil project in Mauritania and allegations concerning political and contractual conduct in Timor-Leste. The proposed James Price Point gas industrial complex in the Kimberley became one of Woodside’s most visible public controversies. The Save The Kimberley campaign, community blockades, court actions and opposition from some Aboriginal and environmental groups delayed the project. Woodside abandoned the proposal in 2013, although debate continued over a proposed social-benefits package associated with the project. In 2021, Woodside agreed to combine with BHP’s petroleum business. Shareholders approved the transaction in 2022, and the enlarged company was listed in Australia, the United States and the United Kingdom. The merger increased Woodside’s production base and international reach. More recent strategy has continued to emphasize LNG and gas developments, including Scarborough, while also exploring lower-carbon and adjacent energy opportunities such as blue ammonia. At the same time, the company has remained the subject of strong criticism from climate campaigners, Indigenous organizations, investors and regulators over new fossil-fuel investment, emissions, consultation, environmental management and decommissioning liabilities.
- 2024
Expansion into US gas and blue ammonia
[1]Woodside announced proposed transactions involving Tellurian and OCI Global’s Texas blue-ammonia project.
- 2022
BHP petroleum merger completed
[1]Woodside completed its combination with BHP’s petroleum assets and gained additional US and UK listings.
- 2013
James Price Point proposal abandoned
[1]The proposed Kimberley gas-processing complex was abandoned after sustained opposition and political resistance.
- 2001
Shell takeover attempt blocked
[1]The Australian Treasurer blocked Shell’s takeover proposal on national-interest grounds.
- 1998
Indigenous land-use agreement executed
[1]A retrospective agreement was executed for the North West Shelf project area involving the Ngarluma Yindjibarndi Foundation.
- 1995
Head office moves to Perth
[1]Woodside transferred its head office from Melbourne to Perth.
- 1985
Shell and BHP become major shareholders
[1]Shell and BHP each held a substantial shareholding as Woodside’s North West Shelf activities expanded.
- 1962
Exploration shifts to Western Australia
[1]Chief geologist Nicholas Boutakoff redirected the company toward the petroleum potential of the North West Shelf.
- 1954
Company incorporated
[1]Woodside was incorporated as Woodside (Lakes Entrance) Oil Co NL.
Products and positioning
Major Australian and international LNG and upstream oil and gas operator
LNG
Liquefied natural gas
LNG is Woodside’s principal commercial offering. The company produces and markets gas that is cooled into liquid form for marine transport, with Australian export infrastructure centered on the North West Shelf and Pluto facilities. LNG activities include upstream gas production, processing, liquefaction, storage and export arrangements.
Upstream oil
Crude oil
Woodside produces crude oil from offshore developments in Western Australia, including the Enfield, Vincent and Pyrenees fields. Production is supported by floating production, storage and offloading vessels and associated offshore infrastructure.
Hydrocarbons
Condensate
Condensate is a liquid hydrocarbon recovered alongside natural gas. It forms part of Woodside’s upstream production portfolio and is associated with gas developments and LNG projects.
Gas development
Scarborough gas project
Scarborough is an offshore gas development approximately 375 kilometres from the Pilbara coast. The planned project includes subsea wells, a floating production unit, a long gas pipeline and an expansion of the Pluto LNG processing facility near Karratha. Production has been targeted for 2026, subject to project execution.
LNG project
Pluto LNG
Pluto LNG is Woodside’s LNG processing and export project near Karratha in Western Australia. The facility processes offshore gas for liquefaction and export, and is planned to receive additional gas from the Scarborough development.
Gas development
Greater Sunrise
Greater Sunrise comprises the Sunrise and Troubadour gas fields in the Timor Sea. Woodside is operator of the joint venture, whose participants include ConocoPhillips, Shell and Osaka Gas. Development concepts have included floating LNG technology, but the project has remained subject to regulatory, commercial and Timor-Leste-related negotiations.
Controversies
2025
Burrup Peninsula heritage and consent dispute
Traditional Owners and heritage advocates continued to dispute whether consent had been obtained for the original North West Shelf construction and its proposed extension, while criticizing impacts on Murujuga rock art and Woodside’s commitments concerning Indigenous rights.
2023
Northern Endeavour decommissioning controversy
Woodside continued to face criticism over the 2016 sale of the Northern Endeavour to a company that later collapsed, leaving the Australian Government exposed to decommissioning responsibilities.
2021
Environmental groups oppose Woodside's Scarborough project
In November 2021, a coalition of environmental organisations opposed Woodside Petroleum's decision to proceed with the Scarborough LNG project. The groups stated that they would step up pressure on the company's investors and financiers, amid a legal challenge seeking to halt the project. The opposition was reported in connection with the project's advancement.
2020
Decommissioning and artificial-reef proposal criticism
Woodside faced criticism over a proposal to leave equipment and plastic associated with the Echo-Yodel field on the seabed under an artificial-reef rationale, as well as disputes over public support for decommissioning-related work.
2019
Lobbying over Western Australian climate guidelines
Woodside led lobbying against proposed Western Australian Environmental Protection Authority climate-protection guidelines. The effort was condemned by corporate-accountability campaigners.
2016
Vincent oil spill disclosure controversy
A 10,500-litre oil spill offshore Western Australia continued for approximately two months before becoming publicly known, prompting criticism of Woodside’s monitoring and disclosure practices.
2011
Underpayment allegations involving offshore workers
Authorities investigated claims that foreign workers on North West Shelf rigs had been paid very low rates. Allegations were later heard in the Federal Court of Western Australia.
2006
Mauritania contract and corruption allegations
Mauritanian authorities criticized amendments to an oil contract associated with Woodside’s Chinguetti project, alleging that they were outside normal legal procedures and disadvantageous to the country. The Australian Federal Police investigated allegations of bribery and corruption.
Marketing campaigns
- 2021Scarborough opposition campaign
Australia
Environmental groups and local campaigners organized protests against the Scarborough-Pluto development, arguing that its emissions were incompatible with Australia’s climate commitments and the Paris Agreement’s temperature goals. The project retained environmental approval and continued toward development.
Outcome. The project retained environmental approval and continued toward development.
- 2012Save The Kimberley
Australia
An environmental and community campaign opposed Woodside’s proposed James Price Point gas industrial complex in Western Australia’s Kimberley region. Activities included public concerts, marches, community blockades, mass submissions and legal actions. The James Price Point proposal was abandoned in 2013.
Outcome. The James Price Point proposal was abandoned in 2013.
Brand decisions
2024
Agree to acquire TellurianM&ABackground
Woodside pursued an expansion of its US natural-gas position.
Action taken
Woodside agreed to acquire Tellurian for an announced enterprise value of US$1.2 billion.
Enterprise value. US$1.2 billion (2024 announcement)
2024
Agree to acquire Texas blue-ammonia projectM&ABackground
The transaction was presented as an expansion into an adjacent lower-carbon energy product while maintaining Woodside’s gas-related capabilities.
Action taken
Woodside announced an agreement to acquire a blue-ammonia project in Texas from OCI Global.
Purchase price. US$2.35 billion (2024 announcement)
2021
Agree to combine with BHP petroleum assetsM&ABackground
Woodside sought to increase scale, production and geographic diversification by combining with BHP’s petroleum portfolio.
Action taken
The companies announced a merger subject to regulatory and shareholder approval.
Aftermath
Shareholders approved the transaction in 2022, and the enlarged Woodside was listed in Australia, the United States and the United Kingdom.
2021
Proceed with Scarborough-Pluto developmentProduct launchBackground
Woodside advanced a major offshore gas and LNG project despite debate over its emissions and compatibility with climate targets.
Action taken
The project was approved and structured around offshore production, a long subsea pipeline and Pluto LNG expansion.
Aftermath
Production was expected to begin in 2026, while environmental groups continued legal and public campaigns against the development.
Recent events
- 2024
Woodside announces proposed Tellurian acquisition[1]
M&A
Woodside agreed to acquire US natural-gas company Tellurian at an announced enterprise value of US$1.2 billion.
- 2024
Woodside announces Texas blue-ammonia acquisition[1]
M&A
Woodside announced an agreement to acquire a blue-ammonia project in Texas from OCI Global for an announced US$2.35 billion.
- 2024
Woodside announces proposed Louisiana LNG development[4]
Product launch · Other
Woodside continued development and regulatory work for a proposed LNG project in Louisiana, positioning it as an international growth project while it remained subject to approvals and commercial execution.
- 2022
Shareholders approve BHP petroleum merger[1]
M&A
Woodside shareholders approved the combination by approximately 98 percent, and the transaction was completed in June 2022.
- 2022
Woodside completes merger with BHP Petroleum[5]
M&A
Woodside completed the merger that combined its business with BHP's petroleum assets, creating a larger listed oil and gas producer and adding assets in Australia, the Gulf of Mexico, Trinidad and Tobago and Senegal.
- 2021
Woodside agrees to merge with BHP petroleum assets[1]
M&A
Woodside and BHP announced a transaction combining BHP’s petroleum assets with Woodside.
- 2021
Scarborough gas project reaches final investment decision[6]
Other
Woodside and its partners approved development of the Scarborough gas resource and the associated Pluto Train 2 LNG expansion.
- 2013
James Price Point gas hub proposal abandoned[1]
Campaign · Other
Woodside and its partners abandoned the proposed Kimberley gas-processing complex after sustained community, Indigenous and political opposition.
- 2001
Shell takeover proposal blocked by Australian government[1]
M&A · Regulation
A proposed takeover attempt by Shell was blocked by Treasurer Peter Costello on national-interest grounds.
- 1954
Woodside incorporated as Woodside (Lakes Entrance) Oil Co NL[1]
Other
The company was established as an Australian oil exploration business named after Woodside in Victoria.
Sources8 sources
- 1Woodside Energyen.wikipedia.org
- 2Environmental groups oppose Woodside's Scarborough projectafr.com
- 3Woodside faces opposition to proposed climate strategyreuters.com
- 4Woodside announces proposed Louisiana LNG developmentwoodside.com
- 5Woodside completes merger with BHP Petroleumwoodside.com
- 6Scarborough gas project reaches final investment decisionwoodside.com
- 7Australia: Inpex launches FEED for Australian offshore CCS projectenergy-pedia.com
- 8Woodside Petroleum appoints insider Meg O’Neill as acting CEObrisbanetimes.com.au
Cite this profile: Cite the canonical profile. /brand-wiki/woodside-energy · Editorial policy · How profiles are compiled