The case for continued exploration

Further greenfield exploration for oil and gas resources has the potential to high grade our portfolio and improve our ability to thrive through the energy transition. New resources that are more competitive – for example, lower cost, lower carbon, or closer to infrastructure – than other existing global discovered resources are more likely to attract investment to meet the available demand for oil and gas. This is not new in the oil and gas industry. Within the Woodside portfolio, the Pluto gas field was not discovered until 2006 but has been developed ahead of resources that had already been discovered at that time, in some cases for decades.