Business

 Woodside has globalized to different part of the world such as Australia,

Myanmar, Senegal, Guinea Bissau Joint Development Zone, Morocco, Gabon,
Ireland, New Zealand, Republic of Korea, Peru and Canada.
 Their three areas of focus, based on their petroleum studies are in
 Australia and the Asia-Pacific
focused on building prospect inventories from 3D seismic surveys in
Australia, New Zealand, Korea and Myanmar. We are also testing proven
and new plays through high impact drilling campaigns. Innovative
application of new seismic imaging technologies supports our active
regional studies, basin analysis and prospect maturation.

Q.2
 Sub-saharan Africa
building a strategic position in both unexplored and under explored plays
in emerging, predominately oil-prone basins in Sub-Saharan Africa, which
has proven world-class petroleum systems with significant potential.

 Atlantic Margins & Latin America

Our focus in the region is on play diversity and multiple trapping
geometries in emerging and frontier basins, which have the potential to
deliver material exploration targets with line of sight to commerciality.

Developing

 The Browse Joint Venture (BJV) participants maintain seven petroleum retention
leases under the Offshore Petroleum and Greenhouse Gas Storage Act 2006
(Cth) (OPGGSA), the Petroleum (Submerged Lands) Act 1982 (WA) and the
Petroleum and Geothermal Energy Resources Act 1967 (WA).
 Wheatstone Project
 The Wheatstone Project (non-operated) comprises the Wheatstone and
Iago fields, an offshore platform, a pipeline to shore and the onshore plant
located near Onslow, in Western Australia's Pilbara region.
 LNG and condensate will be exported and domestic gas will be
transported via pipeline to the Dampier Bunbury Natural Gas Pipeline. The
Wheatstone Project is targeting first LNG in mid-20171.
  Producing Assets

1 Karratha Gas Plant North West Shelf

2 Goodwyn A platform North West Shelf

3 North Rankin Complex North West Shelf

4 Okha FPSO North West Shelf

5 Angel platform North West Shelf

6 Pluto LNG Plant Pluto LNG

7 Pluto LNG platform Pluto LNG

8 Ngujima-Yin FPSO Australian Oil

9 Nganhurra FPSO Australia Oil

Projects

10 Greater Western Flank Phase 2 North West Shelf

11 Persephone North West Shelf

13 Lambert Deep North West Shelf

12 Wheatstone LNG Plant (non-operated) Wheatstone LNG

13 Wheatstone LNG platform (non-operated) Wheatstone LNG

15 Julimar Wheatstone LNG

16 Greater Enfield Australia oil
Developments

17 Browse Development Browse

http://www.woodside.com.au/About-Us/Pages/Global-
Interests.aspx#.WHhGdlN96M8
Strategy

Our strategy to achieve our vision is built upon three related themes:

 Maximising the value of our core assets;

 Leveraging our capabilities; and

 Growing our portfolio.

 Woodside has its own floating LNG, near-shore liquefaction and modular
liquefaction technologies and a range of subsea processing and seismic
processing technologies ready for use. We have established remote operations
from the Perth-based Pluto Support Centre to lower operating costs and
improve maintenance outcomes.
 corporate and asset acquisitions, maintaining a disciplined approach to ensure
that we continue to increase shareholder value and appropriately manage risk.
 Woodside is building an international exploration portfolio characterised by
materiality and depth, with greater emphasis on emerging petroleum provinces. Q.4

LNG Importance
  LNG as a fuel has the potential to become the most important fuel
solution for environmentally sustainable shipping over the next few
years, the CMA Shipping 2016 in Connecticut has heard.
 LNG is playing an ever-increasing role. Like all natural gas, LNG is cleaner than
coal or oil, and it offers an opportunity to diversify energy supplies.
 The decreasing cost of LNG is making it more competitive in more markets
and, at a time of heightened concern about political instability, it can also be a
more attractive option than international pipelines that cross multiple borders. Q.1
 As a result, LNG demand is forecast to grow more quickly than for gas in
general, at about 10percent a year over the next 10 years.
 n 2015, LNG global trade is projected to reach as high as 250 million tonnes
per kjm
 the global natural gas sector has a bright future in particular for those
involved in LNG. Demand for our product is rising – and rising fast. And that
growth – combined with the fact that our industry is still at a relatively early
stage of development – means there are going to be many new business
opportunities ahead.
 Winners will be those who are not only able to develop the upstream gas
and liquefaction capacity, but can also connect gas supplies to emerging
and premium markets – markets such as the east and west coasts of North
America as well as, in the longer term, China and India.

Future outlook
 Despite low oil prices and a weak medium-term outlook, the LNG
market has a bright future. There is the need for ~15 new LNG
trains by 2025 and over double that by 2030.
(https://www.mckinseyenergyinsights.com/insights/positive-
outlook-for-lng.aspx )
 Looking further out, we expect LNG demand to grow by 6% p.a. Q.1
between 2015 and 2020 (roughly 60mtpa). However, nearly
100mtpa of new LNG production will also be entering the market
in the same period, mostly from US and Australian plants that
have already taken FID. The LNG market may indeed by
oversupplied out to beyond 2020, unless demand picks up
significantly or delays or disruptions affect supply.
 (https://www.mckinseyenergyinsights.com/insights/new-lng-
markets-key-to-growth.aspx )
 Ultimately the pace and volume of the development of these
recent and likely emerging markets will be impacted by many
factors, including
 Economic growth rates and corresponding demand for gas
 Local competitiveness of LNG versus alternative fuels, also in light
of environmental regulations
 Regasification and pipeline infrastructure build-out and the
associated financing required
 Gas monetization efforts of the global gas industry
(https://www.mckinseyenergyinsights.com/insights/new-lng-
markets-key-to-growth.aspx )

Joint Ventures (Q.2)

 Joint ventures often enable growth without having to borrow funds or
look for outside investors.
 A joint venture can also be very flexible. For example, a joint venture can
have a limited life span and only cover part of what you do, thus limiting
the commitment for both parties and the business' exposure.
 Businesses of any size can use joint ventures to strengthen long-term
relationships or to collaborate on short-term projects.
 A joint venture can help your business grow faster, increase productivity
and generate greater profits. A successful joint venture can offer:
 access to new markets and distribution networks
 increased capacity
 sharing of risks and costs with a partner
 access to greater resources, including specialised staff, technology and
finance (https://www.nibusinessinfo.co.uk/content/joint-venture-benefits-
and-risks )
Factors to look at joint venture (Q.3)
 Scope: What will be the scope of the proposed JV’s business and
territory? Are there any carve-outs or exclusions that will be retained
by the individual JV partners?
 Goals and objectives: Are the JV partners aligned on the business
objectives and strategic goals of the JV? Is there at least a preliminary
consensus on the initial budget and business plan (including the timing
for launch) for the JV?
 Form: Will the JV take the form of a new entity or be simply
contractual in nature? If a new entity, what form will it take (and what
options exist under law)?
 Ownership and capitalization. If the JV will take the form of a new
entity, what will be the relative ownership between or among the JV
partners, and how will the economic benefits, costs, obligations and
liabilities be allocated? What is the anticipated initial capitalization
and what will the JV’s policy be as to capital calls and the incurrence of
debt?
 Management: How will the board or other governing body be
composed? What approval or “veto” rights will the JV partners have at
the board or shareholder level, including any supermajority or
unanimous approval rights?
 Jurisdiction: Where will the JV be formed and what will be the
governing law of the JV/partner agreements? What legal, tax and
regulatory issues are associated with the JV’s proposed jurisdiction(s)
of formation and operation?
 Relationships: Will additional services, obligations and undertakings be
required by one or more JV partners beyond capital contributions?
 Liquidity rights and obligations: What liquidity rights and restrictions
will the JV partners have in respect of their interests in the JV?
 Disputes: What will be the mechanism for resolving disputes?
 Termination: What termination rights will the JV partners have? What
are the consequences of termination? What post-termination
restrictions on doing business will be imposed on the former JV
 partners? (http://www.insidecounsel.com/2014/09/24/10-key-points-
to-consider-before-entering-a-joint )

Working Sustainably
Our social contribution priority areas align with the United Nations Sustainable
Development Goals and are applied globally. These are:
Create Opportunities:
Create quality education and lifelong learning opportunities; and
Create sustained and inclusive employment.
Build Resilience:
• Build communities that are inclusive, safe and sustainable; and
• Build communities where innovation is used to benefit future generations.
Improve Knowledge:
• Improve understanding of climate change and our response; and
• Improve knowledge and use of our land, air and seas.
Each year we provide financial and in-kind support to a wide range of not-for-profit and
community-based organisations across three main funding types:
• Partnerships: strategically aligned sponsorships (community investments or
commercial initiatives) with individual not-for-profit community-based
organisations;
• Collaboration: strategic alliances between not-for-profits, community and
government organisations focused on achieving an agreed social outcome,
specifically early childhood development through the Woodside Development
Fund; and
Philanthropy: community grants (donations), workplace giving and corporate
volunteering.

Health and Safety

 Our aspiration is ‘no-one gets hurt, no incidents’.

 Our goal is to deliver health and safety performance that meets global top quartile as
measured against our peers in the International Oil and Gas Producers Association.
 To achieve our goal, we expect all our employees and contractors to give paramount
importance to their own health and safety, and that of others so to keep each other
safe.
 Woodside’s behaviour framework, ‘Our Safety Culture’, helps everyone, including our
contractors, understand the role they play in strengthening Woodside’s safety culture.
 Woodside’s strong focus on process safety ensures risks are managed at all our facilities.
 This involves making the safety of our people inherent in the design phase, through
development and into the production life-cycle.

 A healthy and productive workforce remains an important factor in Woodside’s

continuing success as we aspire to lead the way with effective, informative and
enjoyable health and well-being initiatives.

 We see our health and safety performance as fundamental to our aspiration to be a

global leader in oil and gas.

http://www.woodside.com.au/Working-Sustainably/HSEQ/Pages/Health-and-
Safety.aspx#.WHt826Od7BI