Woodside Energy Group Ltd · ASX:WDS

Woodside Energy — Woodside Petroleum — Corporate Update (November 2021)

15 slides from Woodside Energy's corporate update, Nov 22, 2021

  1. Slide 1: ASX Announcement: Scarborough FID Teleconference and Investor Presentation

    ASX Announcement Woodside Petroleum Ltd. ACN 004 898 962 Mia Yellagonga Monday, 22 November 2021 11 Mount Street Perth WA 6000 ASX: WPL Australia OTC: WOPEY T +61 8 9348 4000 www.woodside.com.au SCARBOROUGH FID TELECONFERENCE AND INVESTOR PRESENTATION A teleconference providing an overview of the Sc

  2. Slide 2: Scarborough Development Approved - Investor Presentation

    SCARBOROUGH DEVELOPMENT APPROVED INVESTOR PRESENTATION 22 November 2021 www.woodside.com.au [email protected]

  3. Slide 3: Disclaimer, risks and assumptions

    Disclaimer, risks and assumptions Disclaimer and risks 3. Woodside uses both deterministic and probabilistic methods for estimation of petroleum resources at the field and project levels. Unless otherwise stated, all petroleum estimates reported at the company or region • This presentation contains

  4. Slide 4: Scarborough development approved

    Scarborough development approved Offshore development of 11.1 Tcf dry gas (100%) 1 DEVELOPS WORLD-CLASS RESOURCE Leverages existing infrastructure Utilises Woodside’s core capabilities Enduring value for Woodside shareholders 2 PROVIDES LONG-TERM RETURNS Capital expenditure reduced by Pluto Train 2

  5. Slide 5: Key project data

    Key project data OFFSHORE ONSHORE DEVELOPMENT DEVELOPMENT COST RETURN 11.1 Tcf 5 Mtpa + up to 3 Mtpa $ 5.7 billion > 13.5 % resource size, 100% Pluto Train 2 Pluto Train 1 offshore component internal rate of return2 production capacity capital cost, 100% ~ 0.1 % 225 TJ/day $ 6.3 onshore component bi

  6. Slide 6: Targeting first cargo in 2026

    Targeting first cargo in 2026 OFFSHORE DEVELOPMENT • 11.1 Tcf dry gas (100%)1 Scarborough floating Reservoir • 1.4 billion boe (2P, Woodside share) production unit Pluto platform • 8 Mtpa of LNG plus domestic gas2 Floating production unit • 950m water depth Subsea, umbilicals, risers and • 8 wells a

  7. Slide 7: Optimised and mature offshore development

    Optimised and mature offshore development 1 Wells and reservoir • Infrastructure for up to 20 wells SCA 07 • 250 mmscf/d per well maximum production • Gas composition: ~95% CH4, ~5% N2, ~0.1% CO2 SCA 06 • Short completion length, open hole gravel pack wells SCA 13 SCA 12 SCA 05 2 Subsea, umbilical,

  8. Slide 8: Onshore development utilising existing facilities

    Onshore development utilising existing facilities 1 New Pluto Train 2 • Optimized Cascade™ technology Export trunkline • Engineering, procurement and construction (EPC) contract awarded to Bechtel • Six LM6000 PF+ aeroderivative gas turbines for refrigerant drivers • New refrigerant storage and impo

  9. Slide 9: Contributing to a lower-carbon future

    Contributing to a lower-carbon future Reservoir CO2 in relation to other Australian LNG projects1 20% 18.0% 15% 12.5% LNG assists coal-to-gas switching 9.5% 9.0% 10% 7.5% 5% ~3.8% ~2.4% in Asia ~2.0% ~0.1% 0% Barossa Ichthys Browse Prelude Gorgon Julimar-Brunello Wheatstone NWS NWS Pluto Pluto Scarb

  10. Slide 10: Emissions reduced through design out

    Emissions reduced through design out Pluto Train 2 design improvements in greenhouse gas intensity 0.4 0.3 tCO2-e/t LNG Assessing other opportunities to 0.2 0.1 reduce emissions 0.0 Pluto Train 1 design Pluto Train 2 Aero-derivative Waste heat Inlet air chilling Process design Pluto Train 2 final re

  11. Slide 11: Commercial and accounting

    Commercial and accounting • Fully termed processing and services agreement (PSA) executed for processing of Scarborough gas through Pluto LNG facilities COMMERCIAL • The PSA allows the Scarborough Joint Venture to access: AGREEMENTS • LNG processing services at a rate of up to 8 Mtpa • Domestic gas

  12. Slide 12: Capital cost and integrated schedule

    Capital cost and integrated schedule Indicative annual spend (100%)1 4 Capital cost of US$12.0b 3 (100%) Targeting first $ billion 2 cargo 2026 Peak spend 2023 1 0 2021 2022 2023 2024 2025 2026 2027 Flowline Flex SURF Detail design | procurement | fabrication reel lay lay Detail design | procurement

  13. Slide 13: De-risked execution

    De-risked execution RISKS MITIGATIONS Scope maturity and EPC lump sum provides cost certainty COST All commodities and labour rise and fall mechanisms agreed 75% of steel pricing expected to be locked in by Q1 2022 Major execute contracts have been re-validated, incorporating market and commodity pr

  14. Slide 14: Scarborough development approved

    Scarborough development approved DEVELOPS PROVIDES SUPPORTS WORLD-CLASS RESOURCE LONG-TERM RETURNS DECARBONISATION 11.1 Tcf 8 Mtpa > 13.5 % ~$ 5.8 per MMBtu ~ 0.1 % ~ 0.26 tCO2-e/ t LNG resource size, 100% development plus internal rate of return1 globally competitive cost CO2 in reservoir Train 2 d

  15. Slide 15: Head Office: Woodside Petroleum Ltd

    Head Office: Woodside Petroleum Ltd Mia Yellagonga 11 Mount Street Perth WA 6000 Postal Address: GPO Box D188 Perth WA 6840 Australia T: +61 8 9348 4000 F: +61 8 9214 2777 E: [email protected] Woodside Petroleum Ltd ABN 55 004 898 962 woodside.com.au

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