Woodside said Scarborough was 99% complete and on track for its first LNG cargo in the fourth quarter of 2026. The company said the Trion oil development was 71% complete, with first oil targeted in 2028, while Louisiana LNG was 32% complete and targeting first LNG in 2029.
The company said its base business and projects in execution are expected to increase sales volumes by more than 30% to about 280 million barrels of oil equivalent in 2032. Woodside also projected more than US$40 billion in adjusted operating cash flow from 2027 to 2032, describing the figures as indicative rather than guidance.
Woodside is targeting a US$400 million annual structural reduction in its cost base from 2028 compared with its 2025 baseline. It also introduced a distribution policy targeting a base dividend equal to 20% of adjusted operating cash flow, with up to a further 20% available for dividends and/or buybacks, subject to board discretion.
The company set a target for portfolio return on average capital employed of 12% to 15% by the mid-2030s and a 2035 net equity Scope 1 and 2 emissions-intensity target 30% below its 2025 baseline. Woodside said its forward-looking statements are based on current expectations and assumptions and are not guarantees of future performance.
Source: Download WDS official ASX announcement, 2026-11-05.
Photograph from Woodside Energy’s Capital Markets Day 2026 company announcement, dated 5 November 2026.