The warning by chief executive Meg O’Neill came as Woodside delayed its flagship clean energy project, a US hydrogen venture in America.
Woodside Energy has called for “urgent” reforms to Australia’s offshore approvals process, citing the threat of delay and increased cost at its $16.5 billion Scarborough LNG project in Western Australia.
Woodside narrowed its production guidance for the full year of calendar 2023 to between 183 million and 188 million barrels. That compared with previous guidance of between 180 million and 190 million barrels.Ms O’Neill pointed to “strong” process at projects over the quarter, with the start-up of the Shenzi North venture in the US Gulf of Mexico ahead of the 2024 target date.
She said the decision highlights “the urgent need for reform of Australia’s offshore approvals process”.
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