We are committed to getting through COVID-19 together with our people, suppliers and communities.

 

Our priority is the health and wellbeing of our people and the communities where we live and work, while continuing to deliver gas to the Western Australian and overseas customers who depend on us.

We acknowledge the broader social and economic impacts from the current COVID-19 situation. We are working closely with our contractors and suppliers on measures to mitigate impacts on their businesses and their employees.

Our $10 million COVID-19 Community Fund is here to support community organisations responding to COVID-19. This includes not-for-profit organisations with an established presence in the Western Australian communities where we live and work, namely Karratha, Roebourne, Exmouth, Broome, Dampier Peninsula and Perth. Read the guidance and click here to start an application.

Applications close on 30 June 2020.

CEO Peter Coleman said it is encouraging that Australia has managed thus far to slow the rate of infection, but it’s not over yet. As a nation, we are going to be managing the economic impacts of this crisis for some time and companies like ours have a role to play in the recovery.

 

Our response

Woodside Photography 2018 - On Site-233 [Image by Jarrad Seng]
Alternate operating model

Woodside introduced a temporary COVID-19 operating model for our operating assets in early April 2020. 

The temporary model was developed in consultation with our workforce to ensure we keep our people and communities safe, while maintaining the supply of gas to Western Australia and overseas and complying with Government requirements.

Our priority is to reduce the risk of transmission at our essential service facilities and in the community.

We have put measures in place to help our workforce stay connected with their families and maintain their physical and mental wellbeing while away from home.

CEO Peter Coleman said he was proud of how the Woodside workforce was willing to step up and agree to temporary changes to how they work whether this was working from home or supporting new roster arrangements at our producing assets.

Supporting and thanking the community

Woodside has a long history of partnering with community organisations and we recognise our communities are facing tough times in response to COVID-19. We are working with governments, industry bodies and other resource companies to coordinate support for our communities now, and into the future.

We have established the Woodside $10 million COVID-19 Community Fund to provide direct support to the communities where we are active. Our initial funding has been provided to those that need immediate support, through Lifeline WA and Foodbank WA. 

These two organisations deliver essential services for our community and will continue to experience increased demand for their services in the weeks and months ahead.

We continue to work actively with community stakeholders and local authorities to identify ways to respond to areas of need. As part of the Community Fund, we are seeking applications from not-for-profit organisations to address critical needs in the Western Australian communities where we are active. Click here to apply.

Our employees are also supporting organisations caring for the community through our workplace giving initiative. Employee donations were dollar-matched by Woodside and will fund FoodBank WA, Lifeline WA and Salvation Army Karratha

We also want to thank those who are working on the frontlines of COVID-19.

 

Standing with suppliers and contractors

Reducing non-essential activities, and therefore the number of people at our operating facilities, has been necessary to comply with expert health and government guidance and minimise the impact of COVID-19 on our people and communities, while maintaining energy supply to WA.

We know these actions have flow-on effects and we are committed to supporting those in need.

We’re expediting payments of all outstanding invoices for small, local and Indigenous businesses.  

We’re also reducing payment terms for new invoices received from small Australian businesses, expediting payment from 30 days to 14 days. 

And where we can, we are expediting invoices for other work completed. 

Contractors play a critical role in our business and industry. We are working collaboratively to adjust scopes, rosters and working arrangements at this time.

Woodside Photography 2018 - Environment and Textures-28 [Image by Jarrad Seng]
Keeping people and communities safe

Woodside’s highest priority remains the health and safety of our workforce and the communities in which we operate.

With approval from the Department of Health (DOH), Woodside has introduced Polymerase Chain Reaction (PCR) screening for our WA-based essential operational workers.

PCR screening complements Woodside’s existing controls to protect our people, assets and the broader community against the impacts of COVID-19, including precautionary isolation periods, health questionnaires and temperature checks.

Our Perth office-based employees are currently on a split roster, alternating between working from home and the office to ensure we continue to comply with DOH advice including physical distancing.

We will continue to work together to keep each other and the community safe.

 

Adapting to the changing environment

The uncertain global investment environment arising from the spread of COVID-19, combined with oversupply of crude oil and LNG, has led to significant decline in prices, and required decisive and swift action, including:

  • Changes to Woodside’s 2020 work plan resulting in an approximately 50% reduction in forecast 2020 total expenditure.
  • Review of all non-committed activities supporting Woodside’s growth activities resulting in an approximately 60% reduction in Woodside’s 2020 guided investment expenditure.
  • Deferral of targeted final investment decisions for Scarborough, Pluto Train 2 and Browse.
  • Continuing to progress capital investments in Sangomar Field Development Phase 1, Pyxis Hub and Julimar-Brunello Phase 2.

CEO Peter Coleman said we entered this period of significant uncertainty with one of the strongest balance sheets in the oil and gas industry and world-class, low-cost producing assets.

Our disciplined approach to cash flow and debt management allowed us to respond quickly and decisively to preserve cash flow through these challenging months and ensure we can successfully execute our growth strategy when the time is right.

For more information on the steps we are taking, read our 27 March announcement.

Watch next:

Woodsiders: We Look After Each Other

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Woodside COVID-19 Community Fund
Lifeline WA: Woodside COVID-19 Community Fund
Foodbank WA: Woodside COVID-19 Community Fund

Standing with our suppliers

14-day payment terms

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    Woodside acknowledges Indigenous people's connections to land, water and community. We pay our respects to ancestors and elders - past, present and emerging. We recognise the many contributions Indigenous people make to our business, as community members and employees.