Technology enables us to explore and produce hydrocarbons cost effectively, maintaining our competitive advantage and through performance, differentiating ourselves as a global partner of choice.
Woodside is focused on bringing new solutions to complex challenges in oil and gas by innovating faster and with greater effect than our competitors. Through innovation in technology and science we are working to:
- Improve the probability of exploration success and reduce the cycle time from exploration to development;
- Capture business opportunities through innovative and competitive development solutions;
- Capture opportunities to improve lifting costs of our production; and
- Actively investigating opportunities to either capture value or mitigate threats from disruptive technologies.
We are investing in, developing and improving technology throughout the exploration and production lifecycle. Our activities focus on four strategic areas:
- Subsurface technology
- Upstream technology
- Downstream technology
- Disruptive technology and innovation
Since 2012, Woodside has invested over A$200 million in our Strategic Technology Plan. This includes projects by our people, collaborative research with industry participants and direct funding of university research, professorial chairs and other programs.
Through our studies we are focused on leveraging our subsea build and operate experience through a range of subsea processing and long ‘step-out’ studies. This will enable Woodside to maximise the utilisation of our existing infrastructure and create development opportunities for our exploration portfolio, concepts we will continue to mature and develop in 2015.
Our studies have also focused heavily on leveraging our LNG build and operate experience through a range of onshore, near shore and offshore LNG design solutions. Our pioneering Near Shore LNG concept provides an innovative alternative to onshore LNG with a smaller footprint and lower capital expenditure that we continue to mature and develop in 2015.
Near Shore LNG concept
Video: Harnessing Disruption
As the world becomes more interconnected, information, insights and ideas from disparate organisations can be quickly disseminated, shared and built on to deliver new solutions to old problems.
We believe collaborative innovation is key to future growth.
And that's the premise of Woodside FutureLab.
Building on our legacy of LNG excellence we're growing a community of world-class innovators and forward thinkers. A focused program embracing open collaboration will see our best and brightest working shoulder to shoulder with leading minds from across our industry and relevant adjacent disciplines, both locally and globally.
By collaborating with researchers, entrepreneurs, subject matter experts and parallel leading industries, we aim to leverage our capabilities and maintain our leading position as a partner of choice.
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