• Maintained exceptional production from Sangomar, up 9% from Q1 2024
• Significant progress on major growth projects, all on schedule and budget
• Signed new long-term LNG supply agreements with Uniper and China Resources

Woodside Energy Group Ltd reported a strong operational and financial performance in the first quarter of 2025. The company maintained exceptional production from the Sangomar field, which contributed 78,000 barrels per day (Woodside equity interest) at almost 98% reliability. Total quarterly production was 49.1 MMboe, up 9% from Q1 2024, despite some weather impacts and unplanned outages at other assets. Quarterly revenue was $3,315 million, up 13% from the prior year period, driven by the Sangomar start-up and high gas hub-linked prices. Woodside made significant progress on its major growth projects, with the Beaumont New Ammonia, Scarborough Energy, and Trion projects all on schedule and within budget. The company also continued to streamline its portfolio, divesting the Greater Angostura assets and announcing the sale of a 40% interest in the Louisiana LNG Infrastructure. Subsequent to the quarter, Woodside signed new long-term LNG supply agreements with Uniper and China Resources, further strengthening its marketing position. The company remains focused on operational excellence, project delivery, and portfolio optimization to drive value creation.

Woodside expects the Sangomar field's depreciation, depletion and amortization (DD&A) rate for 2025 to decrease by 5 to 10% from its 2024 DD&A rate of approximately $56/boe, due to a positive response observed in S400 oil producers from water injection and the migration of contingent resources to developed reserves.

Woodside continues to make progress on its major growth projects, with the Beaumont New Ammonia Project on track for startup in the second half of 2025, the Scarborough Energy Project targeted for first LNG cargo in the second half of 2026, and the Trion Project on schedule for first oil in 2028. The company is also advancing the Louisiana LNG project, working towards a final investment decision on the three-train 16.5 Mtpa foundation development.