ANNUAL REPORT INCORPORATING APPENDIX 4E
About this report This Annual Report 2017 is a summary of Woodside’s operations and activities for the 12-month period ended 31 December 2017 and financial position as at 31 December 2017. Woodside Petroleum Ltd (ABN 55 004 898 962) is the ultimate holding company of the Woodside group of companies. In this report, unless otherwise stated, references to ‘Woodside’ and the ‘Group’, the ‘company’, ‘we’, ‘us’ and ‘our’ refer to Woodside Petroleum Ltd and its controlled entities, as a whole. The text does not distinguish between the activities of the ultimate holding company and those of its controlled entities. In this report, references to a year are to the calendar and financial year ended 31 December 2017 unless otherwise stated. All dollar figures are expressed in US currency, Woodside share, unless otherwise stated.
Additional information We have indicated where additional information is available online and in other sections of this report like this: Refer to the Glossary section on pages 143–144 for key terms, units of measurement and conversion factors. Refer to Woodside’s website for more information (www.woodside.com.au).
Forward-looking statements This report contains forward-looking statements. Please refer to page 142, which contains a notice in respect of these statements.
We are working with Green ReportsTM on an initiative ensuring that communications minimise environmental impact and create a more sustainable future for the community.
Sustainable Development Report 2017 A summary of Woodside’s sustainability approach, actions and performance for the 12-month period ended 31 December 2017 is included in our Sustainable Development Report 2017. This report will be available on 8 March 2018.
On the cover An aerial image of Murujuga (the Burrup Peninsula), home to our landmark North West Shelf Project and Pluto LNG facility.
Corporate Governance Statement
Chief Executive Officer’s Report
Our areas of activity
Operating and Financial Review 20
Strategy and capital allocation
Key announcements 2017
Our business model
Events calendar 2018
Glossary, units of measure and conversion factors
Projects and developments
Marketing and shipping
Ten-year comparative data summary
Sustainability 50 Corporate 61
Appendix 4E Results for announcement to the market Revenue from ordinary activities
decreased 4.1% to US$3,908m
Profit from ordinary activities after tax attributable to members
increased 18.0% to US$1,024m
Net profit from the period attributable to members
increased 18.0% to US$1,024m Amount per security
Franked amount per security
Final dividend (US cents per share)
Interim dividend (US cents per share)