Strong reservoir performance, project FIDs boost Woodside Energy’s reserves

Woodside Energy achieved increases in both proved and probable reserves last year across its assets offshore Australia, Senegal and the US, according to the company's latest results statement.

Proved reserves rose by 104 MMboe and probable reserves by 86 MMboe, due in part to:

• Production performance that was above expectations at Pluto in Western Australia; and
• Continued strong deliverability at the deepwater Sangomar Field offshore Senegal, including booking of reserves associated with water injection for the S400 reservoirs. 

The reserve updates were based on ongoing reservoir surveillance and strong operational performance across the company’s core producing assets, which in general performed strongly.

Sanctioning of projects also increased proved reserves by 30.1 MMboe and proved plus probable reserves by 55 MMboe. This included final investment decisions (FIDs) for the Greater Western Flank 4 subsea development for the North West Shelf project; Turrum Phase 3 in the Bass Strait; and a major facilities expansion project at the bp-operated Atlantis complex in the US Gulf of Mexico.