Woodside Energy Upgrades Fiscal Year Oil, Natural Gas Production View

By David Winning

SYDNEY--Woodside Energy upgraded a forecast for annual oil and natural gas production after its Sangomar oil project in Senegal performed strongly and reliability was maintained at its Australian gas-export facilities.

Woodside said it now expects to produce between 192 million and 197 million barrels of oil equivalent in 2025. That is higher than earlier guidance for output of 188 million-195 million BOE.

The Perth-based company also lowered a forecast for unit production costs to between $7.60-$8.10 a barrel of oil equivalent, from $8.00-$8.50/BOE before.

Chief Executive Meg O'Neill lauded Woodside's operational performance in its fiscal third quarter, which included production of 50.8 million barrels of oil equivalent.

"Sangomar maintained its exceptional performance, producing 99,000 barrels of oil per day at 98.2% reliability," she said. "Our Australian assets also demonstrated outstanding reliability of 100% at Pluto LNG and 99.9% at the North West Shelf Project."

Turning to Woodside's portfolio of growth projects, O'Neill said Scarborough is now 91% complete and on track to produce liquefied natural gas for the first time in the second half of 2026.

Woodside's Beaumont New Ammonia Project in the U.S. is 97% complete, with key systems now operational and commissioning activities underway. "We continue to target first ammonia production in late 2025," O'Neill said.

Write to David Winning at david.winning@wsj.com

(END) Dow Jones Newswires

October 21, 2025 18:28 ET (22:28 GMT)