Australian independent Woodside Energy has raised its 2025 oil and gas production guidance despite a dip in LNG output, on the back of increased production from the 100,000 b/d Sangomar oil project offshore Senegal in July-September.
Woodside produced 552,000 b/d of oil equivalent (boe/d) for the quarter, the firm reported on 22 October, down from 577,000 boe/d a year earlier but higher than 550,000 boe/d in April-June.
Gas output dipped to 1.83mn ft³/d from 2mn ft³/d in July-September 2024, but liquids increased from 226,000 b/d to 231,000 b/d.
The 82pc-owned Sangomar's output net to Woodside of 82,000 b/d was up from 64,000 b/d in the same quarter a year earlier, after the field came on line in June 2024. Woodside's total oil output of 160,000 b/d was up from 140,000 b/d a year earlier and 159,000 b/d in April-June.
Sangomar's proven reserves increased by an additional 18.4mn bl in July due to strong performance of the S500 reservoir, but production is expected to begin to decline from the present plateau in October-December.
Output guidance for 2025 has been raised to 192mn-197mn boe up from 188mn-195mn boe previously, while unit production cost guidance has been dropped to $7.60-8.10/boe from a prior $8-8.50/boe.
Woodside produced 530,000 boe/d in 2024, with full-year output of 194mn boe at the upper end of its 189mn-195mn boe guidance.
Meanwhile, the firm's LNG production fell by 9pc on the year for the first nine months of 2025 due to lower output from the 14.3mn t/yr North West Shelf (NWS) LNG terminal and 4.9mn t/yr Pluto LNG project (see table).
Non-Louisiana LNG capital expenditure guidance is now $3.7bn-$4bn due to timing of sustaining capital and spending on the Scarborough LNG backfill project. But no impact on the schedule is expected, Woodside said.
The NWS joint venture (JV) including Woodside, BP, Chevron, Shell, Mitsubishi and Mitsui began developing the Lambert West well, to be tied back to the Angel platform. The project was approved by the JV in January-March 2024.
The Julimar phase 3 gas project, a four-well tieback to the existing Julimar field feeding the Chevron-operated 8.9mn t/yr Wheatstone LNG terminal, commenced drilling in July-September and is expected on line in 2026 when the planned asset swap between the firms is finalised.
Woodside completed divestment of the Greater Angostura assets in Trinidad and Tobago to Anglo-French firm Perenco during the quarter.
| Woodside LNG production | (mn boe) | |||
| NWS | Pluto | Wheatstone* | Total | |
| Jul-Sep '25 | 5.9 | 12.3 | 2.7 | 20.9 |
| Apr-Jun '25 | 5.4 | 11.1 | 2.4 | 18.9 |
| Jul-Sep '24 | 7 | 12 | 2.6 | 21.6 |
| Jan-Sep '25 | 17.7 | 33.9 | 7.5 | 59 |
| Jan-Sep '24 | 22.3 | 35.5 | 6.9 | 64.7 |
| y-o-y % ± | -16 | 3 | 4 | -3 |
| q-o-q % ± | 9 | 11 | 13 | 11 |
| *Woodside controls a 13pc interest in Wheatstone LNG | ||||
| — Woodside | ||||
