The energy company Woodside Energy from Perth has reported a 12% decrease in sales revenue in the last quarter, which can be attributed to weaker production performance and lower realized prices for its oil and natural gas. Compared to the previous quarter, revenue fell from 3.36 billion US dollars to 2.97 billion US dollars. The average prices for oil and natural gas dropped by 5% to 63 US dollars per barrel of oil equivalent, while production declined by 7% to 44.9 million barrels of oil equivalent, mainly due to lower yields in the Bass Strait, Pyrenees, and Pluto facilities.

Despite these challenges, Woodside is on the cusp of tapping into a new source of oil production through the Sangomar project in Senegal. The project is 96% complete, and the commissioning of the floating production and storage unit has already begun, with planned first production by the middle of this year. Sangomar is one of several growth projects that Woodside is advancing to maintain high levels of production.

The Scarborough Natural Gas Project off the coast of Australia, which Woodside is developing together with Japanese investors, is already 62% complete. "We are on track for the first LNG delivery in 2026," said CEO Meg O'Neill. Woodside has confirmed its forecasts for annual production of 185 to 195 million barrels of oil equivalent.