Purpose, strategy & values

STRATEGY FOR SUCCESS

Our strategy is shaped to successfully respond to the energy transition, underpinned by industry-leading technology and a prudent approach to capital allocation.

  • Our purpose

    Society's trusted energy partner

  • Our mission and vision

    Deliver affordable energy solutions and superior outcomes for stakeholders

Our foundation

Robust hydrocarbon business

Woodside’s operations are characterised by strong LNG reliability, cost discipline and strong safety and environmental performance. Our base business provides the foundation to deliver new growth opportunities. We have an attractive portfolio of potential developments to unlock value for shareholders and other stakeholders. We are planning to undertake these activities at the right time in the investment cycle in order to deliver new production when anticipated global demand requires it. We will continue to maintain our competitive advantage through: sustained operational excellence, resources in close proximity to growth markets, acute cost focus and the delivery of value through innovation in technology or diversified products.

woodside2020---kgp-image-by-jarrad-seng--107-web
Building on our history and expertise

Energy growth

We are progressing new gas and energy projects in the Pilbara. This involves the proposed development of the Scarborough and Browse offshore gas fields, as well as a number of onshore expansion and third-party processing opportunities that will utilise existing and proven facilities at Pluto LNG and the NWS Project. These projects will ensure the continued supply of domestic and export energy, providing significant economic and community benefits for decades to come. We are targeting a final investment decision for Scarborough and Pluto Train 2 in the second half of 2021. Project execution activities are well advanced for the Sangomar Field Development Phase 1 offshore Senegal, targeting first oil in 2023.

woodside2020---kgp-image-by-jarrad-seng--95-web
Building on our strengths

Successful energy transition

We are focused on providing affordable energy solutions that deliver enduring value to shareholders, communities, governments and other stakeholders. We are managing our energy transition through the provision of natural gas, the decarbonisation of our business and incremental investment in targeted new energy businesses with prospective exponential growth, such as hydrogen. We have clear near- and mid-term targets that put us on a pathway to net zero by 2050 for our direct emissions. We are pursuing opportunities that are the right fit for us and that complement our assets and abilities, offering optionality around traditional assets that may diversify our revenue streams. We are developing our carbon business, and are actively generating carbon sinks to offset our Scope 1 and Scope 2 emissions. We are sharing knowledge and building capabilities through strategic partnerships.

Everything we do is guided by the Woodside Compass

The Compass defines the fundamental values that make us who we are, our pioneering spirit that has underpinned more than 65 years of achievement. The Compass also provides clear direction on where we are going, and how we will get there.

We believe that by doing what's right, by living our values every day, we can perform to our very best.

Our values

  • Respect

    We give everyone a fair go. We listen.

  • Discipline

    We play by the rules. We set goals and we hold ourselves to account.

  • Working Together

    We're on the same team. We build long-term partnerships

  • Integrity

    We are open, honest and fair. We do what we will say we will do.

  • Work Sustainably

    We are here for the long term. We look after each other, our commitment and our environment. We keep each other safe.

  • Excellence

    We achieve good results. We learn. We get better. We have the courage to do the right thing.

We have a clear strategy to deliver superior stakeholder outcomes through our strong LNG business and the execution of low-cost and low-carbon growth opportunities, informed by the energy transition.

Peter Coleman, Chief Executive Officer and Managing Director