Woodside Fact Checker
North West Shelf Project Extension
- A$40 billion The project has paid over $40 billion in royalties and excise
- > 6,000 petajoules The project has contributed over 6,000 petajoules of domestic gas to Western Australia
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Woodside is transparent about all of its business activities
Get the information on Woodside's key business activities, including its climate approach, the Scarborough project, Australian cultural heritage management, its tax contribution and more.
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The Scarborough Energy Project
- A$52.8 billion Taxation and royalty payments estimated to be generated in Australia between 2024 and 2056
- A$90 million Committed to spending more than A$90 million with Karratha businesses
- A$3.6 billion Awarded more than A$3.6 billion in contracts to local Western Australian businesses
- 8.5 million Expected to be large enough to power more than 8.5 million homes for more than 30 years*
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Natural gas producers' contribution to the economy
- 40% Petroleum resource rent tax (PRRT) is a 40% profits-based resource tax
- 30% The profits of gas producers remain subject to the corporate income tax regime at 30% of taxable income for large corporates
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Domestic gas supplied to Western Australia
- 3863 petajoules Domestic gas supplied to Western Australia since 1984
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Scarborough project: Managing emissions
- Less than 0.1% The Scarborough gas field contains less than 0.1% carbon dioxide
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Managing environmental impacts
- 30 years 30 years of scientific research
- 2023 Awarded the Environment Project Excellence Award at APPEA
- 20 papers Funded research has resulted in over 20 papers in international peer-reviewed scientific journals
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Taxes paid and benefits to the Australian economy
- A$5 billion Australian taxes, royalties and levies paid by Woodside in 2023
- 42% All-in effective tax rate in respect of Woodside's global profits (excluding exceptional items) in 2023
- A$40 billion Federal royalties and excise paid by the Woodside-operated North West Shelf (NWS) project since starting production to 2023 (100% venture)
- A$20 billion Petroleum resource rent tax (PRRT) paid by Woodside across its merged portfolio, since the PRRT has applied to 2023
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The role of gas in Australia
- 2.2% Forecast natural gas demand increase each year to 2033
- 2026 New gas infrastructure needed by 2026 to meet demand
- 2028 Forecast gap in east coast gas supply will increase from 2028
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Woodside Statement on Activism
Woodside is building a lower carbon business and wants to be part of an honest conversation about Australia’s energy needs now and into the future. Woodside fully supports respectful debate, including in relation to complex challenges like climate change.
