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Interests in joint operations
 12 Months Ended
Jun. 30, 2022
Investments accounted for using equity method [abstract]  
Interests in joint operations
30    Interests in joint operations
Significant joint operations of the Group are those with the most significant contributions to the Group’s net profit or net assets. The Group’s interest in the joint operations results are listed in the table below. For a list of the Group’s investments in joint operations, refer to Exhibit 8.1 - List of Subsidiaries.
 
 
 
 
 
 
  
Group’s interest
 
Significant joint operations
 
Country of operation
 
Principal activity
  
2022

%
 
  
2021
%
 
Mt Goldsworthy
1
   Australia   Iron ore mining   
 
85
 
      85  
Mt Newman
1
   Australia   Iron ore mining   
 
85
 
      85  
Yandi
1
   Australia   Iron ore mining   
 
85
 
      85  
Central Queensland Coal Associates
   Australia   Coal mining   
 
50
 
      50  
Atlantis
2
   US   Hydrocarbons production   
 
–
 
      44  
Bass Strait
2
   Australia   Hydrocarbons production   
 
–
 
      50  
Macedon
2
   Australia   Hydrocarbons production   
 
–
 
      71.43  
Mad Dog
2
   US   Hydrocarbons production   
 
–
 
      23.9  
North West Shelf
2
   Australia   Hydrocarbons production   
 
–
 
      12.5–16.67  
Pyrenees
2
   Australia   Hydrocarbons production   
 
–
 
      40–71.43  
ROD Integrated Development
2
   Algeria   Hydrocarbons production   
 
–
 
      28.85  
Shenzi
2
   US   Hydrocarbons production   
 
–
 
      72  
Trinidad/Tobago
2
   Trinidad and Tobago   Hydrocarbons production   
 
–
 
      45–68.46  
 
1
These contractual arrangements are controlled by the Group and do not meet the definition of joint operations. However, as they are formed by contractual arrangement and are not entities, the Group recognises its share of assets, liabilities, revenue and expenses arising from these arrangements.
 
2
 
These joint operations formed part of the Group’s oil and gas portfolio that merged with Woodside on 1 June 2022. Refer to note 27 ‘Discontinued operations’ for details.
Assets held in joint operations subject to significant restrictions are as follows:
 
 
  
Group’s share
 
 
  
2022
 
  
2021
 
 
  
US$M
 
  
US$M
 
Current assets
   
 
1,928
 
      2,260  
Non-current
assets
   
 
26,256
 
      38,725  
    
 
 
     
 
 
  
Total assets
1
   
 
28,184
 
      40,985  
    
 
 
     
 
 
  
 
 
1
While the Group is unrestricted in its ability to sell a share of its interest in these joint operations, it does not have the right to sell individual assets that are used in these joint operations without the unanimous consent of the other participants. The assets in these joint operations are also restricted to the extent that they are only available to be used by the joint operation itself and not by other operations of the Group.