Woodside Energy Group has released its year-end 2025 reserves statement, reporting remaining proved reserves of 1,882.1 million barrels of oil equivalent (MMboe), proved plus probable reserves of 2,999.5 MMboe, and 2C contingent resources of 5,795.7 MMboe. After adjusting for production and asset sales, proved reserves rose by 134.1 MMboe and proved plus probable reserves increased by 141.0 MMboe, reflecting solid performance across the company’s global asset base.
Acting CEO Liz Westcott said the latest figures highlight the strength of Woodside’s portfolio and ongoing efforts to maximise value from existing operations. She noted that disciplined investment choices and strong technical execution helped deliver reserve additions while supporting long-term cash generation and project development, including the company’s decision to move forward with Louisiana LNG.
Compared with year-end 2024, proved reserves declined slightly from 1,975.7 MMboe, and proved plus probable reserves were down from 3,092.2 MMboe, largely due to production during the year. Contingent resources also fell modestly from 5,869.7 MMboe. Operational performance and technical reassessments across assets in Australia, Senegal, and the United States contributed to reserve gains.
Key drivers included production results at the Pluto facility that exceeded expectations and continued strong output at Sangomar, where reserves linked to water-injection programmes in the S400 reservoirs were added. These changes reflect ongoing reservoir monitoring and efficient operations across Woodside’s producing fields.
New project approvals also supported reserve growth. Final investment decisions on Greater Western Flank 4 at the North West Shelf, Turrum Phase 3 in Bass Strait, and the Atlantis facilities expansion added 30.1 MMboe to proved reserves and 55.0 MMboe to proved plus probable reserves. These developments are intended to sustain output and strengthen long-term production capacity.
Based on 2025 production levels, Woodside estimates a proved reserves life of 8.9 years and a proved plus probable reserves life of 14.2 years. The update underscores Woodside’s focus on maintaining a balanced portfolio, improving asset performance, and advancing projects that support future energy demand while delivering steady returns to shareholders.
Woodside is a global energy producer with operations spanning Australia, North America, and Africa. The company played a key role in establishing Australia’s LNG industry in the 1980s and has supplied natural gas reliably to domestic and international markets for decades. Woodside’s current strategy focuses on maintaining a resilient and diversified portfolio across oil, gas, and emerging energy projects while supporting the global energy transition.
