XML 137 R44.htm IDEA: XBRL DOCUMENT v3.22.4
Segment Revenue and Expenses (Tables)
 12 Months Ended
Dec. 31, 2022
Text Block [abstract]  
Summary of geographical information
Geographical Information
   
Revenue from external customers
1 
     
Non-current assets
2
  
     
2022
US$m
     
2021
US$m
     
2020
US$m
     
2022
US$m
     
2021
US$m
  
Asia Pacific
   
 
12,521
 
   
 
6,342
 
   
 
3,362
 
   
 
36,966
 
   
 
18,386
 
Americas
   
 
1,545
 
   
 
-
 
   
 
-
 
   
 
7,057
 
   
 
1
 
Africa
   
 
-
 
   
 
-
 
   
 
-
 
   
 
4,049
 
   
 
2,802
 
Europe
   
 
2,751
 
   
 
620
 
   
 
238
 
   
 
-
 
   
 
-
 
Consolidated
   
 
16,817
 
   
 
6,962
 
   
 
3,600
 
   
 
48,072
 
   
 
21,189
 
 
1.
Revenue is attributable to geographic location based on the location of the customers.
2.
Non-current
assets exclude deferred tax of $1,959 million (2021: $1,007 million).
Summary of segment assets and liabilities
    
 
Australia
 
  
 
International
 
  
 
Marketing
 
  
 
 
Corporate/
Other
 
 
  
 
Consolidated
 
    
 
 
2022
US$m
 
 
  
 
 
2022
US$m
 
 
  
 
 
2022
US$m
 
 
  
 
 
2022
US$m
 
 
  
 
 
2022
US$m
 
 
 
  
Liquefied natural gas
   
 
8,855
 
  
 
-
 
  
 
2,434
 
  
 
-
 
  
 
11,289
 
Pipeline gas
   
 
1,086
 
  
 
276
 
  
 
-
 
  
 
-
 
  
 
1,362
 
Crude oil and condensate
   
 
2,467
 
  
 
1,273
 
  
 
18
 
  
 
-
 
  
 
3,758
 
Natural gas liquids
   
 
171
 
  
 
26
 
  
 
9
 
  
 
-
 
  
 
206
 
 
  
Revenue from sale of hydrocarbons
   
 
12,579
 
  
 
1,575
 
  
 
2,461
 
  
 
-
 
  
 
16,615
 
 
  
Intersegment revenue
1
  
 
(455
) 
  
 
(5
) 
  
 
460
 
  
 
-
 
  
 
-
 
Processing and services revenue
   
 
175
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
175
 
Shipping and other revenue
   
 
-
 
  
 
-
 
  
 
27
 
  
 
-
 
  
 
27
 
 
  
Other revenue
   
 
(280
) 
  
 
(5
) 
  
 
487
 
  
 
-
 
  
 
202
 
 
  
Operating revenue
2
  
 
12,299
 
  
 
1,570
 
  
 
2,948
 
  
 
-
 
  
 
16,817
 
 
  
Production costs
   
 
(975
) 
  
 
(313
) 
  
 
-
 
  
 
7
 
  
 
(1,281
) 
Royalties, excise and levies
   
 
(540
) 
  
 
(39
) 
  
 
-
 
  
 
(17
) 
  
 
(596
) 
Insurance
   
 
(35
) 
  
 
(7
) 
  
 
-
 
  
 
(1
) 
  
 
(43
) 
Inventory movement
   
 
44
 
  
 
(3
) 
  
 
-
 
  
 
-
 
  
 
41
 
 
  
Costs of production
   
 
(1,506
) 
  
 
(362
) 
  
 
-
 
  
 
(11
) 
  
 
(1,879
) 
 
  
Land and buildings
   
 
(51
) 
  
 
(3
) 
  
 
-
 
  
 
-
 
  
 
(54
) 
Transferred exploration and evaluation
   
 
(107
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(107
) 
Plant and equipment
   
 
(2,168
) 
  
 
(436
) 
  
 
-
 
  
 
(33
) 
  
 
(2,637
) 
 
  
Oil and gas properties depreciation and amortisation
   
 
(2,326
) 
  
 
(439
) 
  
 
-
 
  
 
(33
) 
  
 
(2,798
) 
 
  
Shipping and direct sales costs
   
 
(312
) 
  
 
(36
) 
  
 
(73
) 
  
 
142
 
  
 
(279
) 
Trading costs
   
 
(14
) 
  
 
-
 
  
 
(1,763
) 
  
 
-
 
  
 
(1,777
) 
Other hydrocarbon costs
   
 
(19
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(19
) 
Other cost of sales
   
 
(4
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(4
) 
Movement in onerous contract provision
3
  
 
-
 
  
 
-
 
  
 
216
 
  
 
-
 
  
 
216
 
 
  
Other cost of sales
   
 
(349
) 
  
 
(36
) 
  
 
(1,620
) 
  
 
142
 
  
 
(1,863
) 
 
  
Cost of sales
   
 
(4,181
) 
  
 
(837
) 
  
 
(1,620
) 
  
 
98
 
  
 
(6,540
) 
 
  
Gross profit
   
 
8,118
 
  
 
733
 
  
 
1,328
 
  
 
98
 
  
 
10,277
 
 
  
Other income
4
  
 
722
 
  
 
4
 
  
 
5
 
  
 
4
 
  
 
735
 
 
  
Exploration and evaluation expenditure
5
  
 
(20
) 
  
 
(277
) 
  
 
-
 
  
 
1
 
  
 
(296
) 
Amortisation of permit acquisition
   
 
(1
) 
  
 
(9
) 
  
 
-
 
  
 
-
 
  
 
(10
) 
Write-offs
6
   
 
-
 
  
 
(164
) 
  
 
-
 
  
 
-
 
  
 
(164
) 
 
  
Exploration and evaluation
   
 
(21
) 
  
 
(450
) 
  
 
-
 
  
 
1
 
  
 
(470
) 
 
  
General, administrative and other costs
7
  
 
(13
) 
  
 
(21
) 
  
 
(10
) 
  
 
(747
) 
  
 
(791
) 
Depreciation of other plant and equipment
   
 
-
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
-
 
Depreciation of lease assets
   
 
(49
) 
  
 
(11
) 
  
 
-
 
  
 
(80
) 
  
 
(140
) 
Restoration movement
   
 
(234
) 
  
 
(46
) 
  
 
-
 
  
 
8
 
  
 
(272
) 
Other
8
  
 
(8
) 
  
 
(84
) 
  
 
(475
) 
  
 
(486
) 
  
 
(1,053
) 
 
  
Other costs
   
 
(304
) 
  
 
(162
) 
  
 
(485
) 
  
 
(1,305
) 
  
 
(2,256
) 
 
  
Other expenses
   
 
(325
) 
  
 
(612
) 
  
 
(485
) 
  
 
(1,304
) 
  
 
(2,726
) 
 
  
Impairment losses
   
 
-
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
-
 
 
  
Impairment reversals
9
   
 
900
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
900
 
 
  
Profit/(loss) before tax and net finance costs
   
 
9,415
 
  
 
125
 
  
 
848
 
  
 
(1,202
) 
  
 
9,186
 
 
  
 
1.
Intersegment revenue comprises the incremental income net of all associated expenses generated by the Marketing segment’s optimisation of the oil and gas portfolio. The value is incremental income net of incremental costs.
2.
Operating revenue includes revenue from contracts with customers of $16,790 million and sub-lease income of $27 million disclosed within shipping and other revenue.
3.
Comprises changes in estimates of $245 million offset by provisions used of $29 million. Refer to Note D.5 for further details.
4.
Includes initial gain on Train 2 sell-down of $427 million, revaluation gain on the remeasurement of the Train 2 sell-down variable consideration of $71 million, fees and recoveries, foreign exchange gains and other income not associated with the ongoing operations of the business.
5.
Includes $142 million for various costs relating to the Group’s exit from the Orphan Basin exploration licences in Canada.
6.
$125 million relates to costs of unsuccessful wells that have been written off. Refer to Note B.2.
7.
Transaction costs of $419 million incurred as a result of the BHPP merger on 1 June 2022 are included in the Corporate/Other segment. Refer to Note B.5 for details.
8.
Includes losses on hedging activities and changes in fair value of derivative financial instruments of $960 million in the Marketing and Corporate/Other segments and other expenses not associated with the ongoing operations of the business.
9.
Impairment reversals on oil and gas properties. Refer to Note B.4 for more details.
 
 
    
Australia
    
International
    
Marketing
    
Corporate/
Other
    
Consolidated
  
    
2021
8
US$m
    
2021
8
US$m
    
2021
8
US$m
    
2021
8
US$m
    
2021
US$m
  
 
  
Liquefied natural gas
   
 
3,910
 
  
 
-
 
  
 
1,449
 
  
 
-
 
  
 
5,359
 
Pipeline gas
   
 
43
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
43
 
Crude oil and condensate
   
 
1,316
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
1,316
 
Natural gas liquids
   
 
60
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
60
 
 
  
Revenue from sale of hydrocarbons
   
 
5,329
 
  
 
-
 
  
 
1,449
 
  
 
-
 
  
 
6,778
 
 
  
Intersegment revenue
1
  
 
(236)
 
  
 
-
 
  
 
236
 
  
 
-
 
  
 
-
 
Processing and services revenue
   
 
143
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
143
 
Shipping and other revenue
   
 
4
 
  
 
-
 
  
 
37
 
  
 
-
 
  
 
41
 
 
  
Other revenue
   
 
(89)
 
  
 
-
 
  
 
273
 
  
 
-
 
  
 
184
 
 
  
Operating revenue
2
  
 
5,240
 
  
 
-
 
  
 
1,722
 
  
 
-
 
  
 
6,962
 
 
  
Production costs
   
 
(489)
 
  
 
-
 
  
 
-
 
  
 
8
 
  
 
(481)
 
Royalties, excise and levies
   
 
(218)
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(218)
 
Insurance
   
 
(32)
 
  
 
-
 
  
 
-
 
  
 
1
 
  
 
(31)
 
Inventory movement
   
 
17
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
17
 
 
  
Costs of production
   
 
(722)
 
  
 
-
 
  
 
-
 
  
 
9
 
  
 
(713)
 
 
  
Land and buildings
   
 
(51
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(51
) 
Transferred exploration and evaluation
   
 
(79
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(79
) 
Plant and equipment
   
 
(1,419
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(1,419
) 
 
  
Oil and gas properties depreciation and amortisation
   
 
(1,549
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(1,549
) 
 
  
Shipping and direct sales costs
   
 
(197
) 
  
 
-
 
  
 
(45
) 
  
 
32
 
  
 
(210
) 
Trading costs
   
 
(3
) 
  
 
-
 
  
 
(1,492
) 
  
 
-
 
  
 
(1,495
) 
Other hydrocarbon costs
   
 
(6
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(6
) 
Other cost of sales
   
 
(11
) 
  
 
-
 
  
 
-
 
  
 
(1
) 
  
 
(12
) 
Movement in onerous contract provision
3
  
 
-
 
  
 
-
 
  
 
140
 
  
 
-
 
  
 
140
 
 
  
Other cost of sales
   
 
(217
) 
  
 
-
 
  
 
(1,397
) 
  
 
31
 
  
 
(1,583
) 
 
  
Cost of sales
   
 
(2,488
) 
  
 
-
 
  
 
(1,397
) 
  
 
40
 
  
 
(3,845
) 
 
  
Gross profit/(loss)
   
 
2,752
 
  
 
-
 
  
 
325
 
  
 
40
 
  
 
3,117
 
 
  
Other income
4
  
 
97
 
  
 
(2
) 
  
 
1
 
  
 
43
 
  
 
139
 
 
  
Exploration and evaluation expenditure
   
 
(16
) 
  
 
(27
) 
  
 
-
 
  
 
(11
) 
  
 
(54
) 
Amortisation of permit acquisition
   
 
-
 
  
 
(2
) 
  
 
-
 
  
 
(1
) 
  
 
(3
) 
Write-offs
5
  
 
-
 
  
 
(265
) 
  
 
-
 
  
 
-
 
  
 
(265
) 
 
  
Exploration and evaluation
   
 
(16
) 
  
 
(294
) 
  
 
-
 
  
 
(12
) 
  
 
(322
) 
 
  
General, administrative and other costs
   
 
(5
) 
  
 
(1
) 
  
 
-
 
  
 
(152
) 
  
 
(158
) 
Depreciation of other plant and equipment
   
 
-
 
  
 
-
 
  
 
-
 
  
 
(30
) 
  
 
(30
) 
Depreciation of lease assets
   
 
(28
) 
  
 
-
 
  
 
-
 
  
 
(80
) 
  
 
(108
) 
Restoration movement
   
 
(80
) 
  
 
12
 
  
 
-
 
  
 
-
 
  
 
(68
) 
Other
6
  
 
(57
) 
  
 
(32
) 
  
 
28
 
  
 
(64
) 
  
 
(125
) 
 
  
Other costs
   
 
(170
) 
  
 
(21
) 
  
 
28
 
  
 
(326
) 
  
 
(489
) 
 
  
Other expenses
   
 
(186
) 
  
 
(315
) 
  
 
28
 
  
 
(338
) 
  
 
(811
) 
 
  
Impairment losses
   
 
(10
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(10
) 
 
  
Impairment reversals
7
  
 
1,058
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
1,058
 
 
  
Profit/(loss) before tax and net finance costs
   
 
3,711
 
  
 
(317
) 
  
 
354
 
  
 
(255
) 
  
 
3,493
 
 
  
 
1.
Intersegment revenue comprises the incremental income net of all associated expenses generated by the Marketing segment’s optimisation of the oil and gas portfolio. The value is incremental income net of incremental costs.
2.
Operating revenue includes revenue from contracts with customers of $6,923 million and sub-lease income of $39 million disclosed within shipping and other revenue.
3.
Comprises provisions used of $45 million and changes in estimates of $95 million. Refer to Note D.5 for further details.
4.
Includes other income of $67 million relating to Pluto volumes delivered into Wheatstone’s sales commitments and net foreign exchange gains of $44 million.
5.
$56 million relates to costs of unsuccessful wells. $209 million relates to capitalised costs written off due to the Group’s decision to withdraw from its interests in Myanmar. Refer to Note B.2.
6.
Includes net loss on hedging activities of $91 million, various costs relating to Woodside’s exit from the Kitimat LNG development of $33 million and other expenses not associated with the ongoing operations of the business.
7.
Impairment reversals on oil and gas properties. Refer to Note B.4 for more details.
8.
The 2021 amounts have been restated to reflect the changes in operating segments and portfolio reporting for LNG revenue.
 
 
    
Australia
    
International
    
Marketing
    
Corporate/
Other
    
Consolidated
  
    
2020
6
US$m
    
2020
6
US$m
    
2020
6
US$m
    
2020
6
US$m
    
2020
US$m
  
 
  
Liquefied natural gas
1
  
 
2,390
 
  
 
-
 
  
 
129
 
  
 
-
 
  
 
2,519
 
Pipeline gas
   
 
73
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
73
 
Crude oil and condensate
   
 
843
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
843
 
Natural gas liquids
   
 
16
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
16
 
 
  
Revenue from sale of hydrocarbons
   
 
3,322
 
  
 
-
 
  
 
129
 
  
 
-
 
  
 
3,451
 
 
  
Intersegment revenue
2
  
 
(47)
 
  
 
-
 
  
 
47
 
  
 
-
 
  
 
-
 
Processing and services revenue
   
 
142
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
142
 
Shipping and other revenue
   
 
4
 
  
 
-
 
  
 
3
 
  
 
-
 
  
 
7
 
 
  
Other revenue
   
 
99
 
  
 
-
 
  
 
50
 
  
 
-
 
  
 
149
 
 
  
Operating revenue
   
 
3,421
 
  
 
-
 
  
 
179
 
  
 
-
 
  
 
3,600
 
 
  
Production costs
   
 
(486)
 
  
 
-
 
  
 
-
 
  
 
8
 
  
 
(478)
 
Royalties, excise and levies
   
 
(82)
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(82)
 
Insurance
   
 
(32)
 
  
 
-
 
  
 
-
 
  
 
1
 
  
 
(31)
 
Inventory movement
   
 
(32)
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(32)
 
 
  
Costs of production
   
 
(632)
 
  
 
-
 
  
 
-
 
  
 
9
 
  
 
(623)
 
 
  
Land and buildings
   
 
(55
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(55
) 
Transferred exploration and evaluation
   
 
(99
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(99
) 
Plant and equipment
   
 
(1,535
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(1,535
) 
 
  
Oil and gas properties depreciation and amortisation
   
 
(1,689
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(1,689
) 
 
  
Shipping and direct sales costs
   
 
(146
) 
  
 
-
 
  
 
(3
) 
  
 
38
 
  
 
(111
) 
Trading costs
   
 
(4
) 
  
 
-
 
  
 
(207
) 
  
 
-
 
  
 
(211
) 
Other hydrocarbon costs
   
 
(4
) 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
(4
) 
Other cost of sales
   
 
-
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
-
 
Movement in onerous contract provision
3
  
 
-
 
  
 
-
 
  
 
(347
) 
  
 
-
 
  
 
(347
) 
 
  
Other cost of sales
   
 
(154
) 
  
 
-
 
  
 
(557
) 
  
 
38
 
  
 
(673
) 
 
  
Cost of sales
   
 
(2,475
) 
  
 
-
 
  
 
(557
) 
  
 
47
 
  
 
(2,985
) 
 
  
Gross profit/(loss)
   
 
946
 
  
 
-
 
  
 
(378
) 
  
 
47
 
  
 
615
 
 
  
Other income
4
  
 
3
 
  
 
(1
) 
  
 
1
 
  
 
(39
) 
  
 
(36
) 
 
  
Exploration and evaluation expenditure
   
 
(26
) 
  
 
(32
) 
  
 
-
 
  
 
(9
) 
  
 
(67
) 
Amortisation of permit acquisition
   
 
(6
) 
  
 
(5
) 
  
 
-
 
  
 
(1
) 
  
 
(12
) 
Write-offs
   
 
-
 
  
 
(2
) 
  
 
-
 
  
 
-
 
  
 
(2
) 
 
  
Exploration and evaluation
   
 
(32
) 
  
 
(39
) 
  
 
-
 
  
 
(10
) 
  
 
(81
) 
 
  
General, administrative and other costs
   
 
(7
) 
  
 
(14
) 
  
 
-
 
  
 
(169
) 
  
 
(190
) 
Depreciation of other plant and equipment
   
 
-
 
  
 
-
 
  
 
-
 
  
 
(29
) 
  
 
(29
) 
Depreciation of lease assets
   
 
(26
) 
  
 
-
 
  
 
-
 
  
 
(68
) 
  
 
(94
) 
Restoration movement
   
 
(65
) 
  
 
37
 
  
 
-
 
  
 
-
 
  
 
(28
) 
Other
4
  
 
(8
) 
  
 
-
 
  
 
-
 
  
 
(51
) 
  
 
(59
) 
 
  
Other costs
   
 
(106
) 
  
 
23
 
  
 
-
 
  
 
(317
) 
  
 
(400
) 
 
  
Other expenses
   
 
(138
) 
  
 
(16
) 
  
 
-
 
  
 
(327
) 
  
 
(481
) 
 
  
Impairment losses
5
  
 
(3,971
) 
  
 
(1,298
) 
  
 
-
 
  
 
-
 
  
 
(5,269
) 
 
  
Impairment reversals
   
 
-
 
  
 
-
 
  
 
-
 
  
 
-
 
  
 
-
 
 
  
Loss before tax and net finance costs
   
 
(3,160
) 
  
 
(1,315
) 
  
 
(377
) 
  
 
(319
) 
  
 
(5,171
) 
 
  
 
1.
Includes an adjustment of $113 million related to price reviews under negotiation for multiple contracts in the Australia segment, reducing revenue recognised in the current and prior periods and increasing other liabilities.
2.
Intersegment revenue comprises the incremental income net of all associated expenses generated by the Marketing segment’s optimisation of the oil and gas portfolio. The value is incremental income net of incremental costs.
3.
Comprised of the recognition of an onerous contract provision $447 million, offset by changes in estimates of $54 million, provisions used of $41 million and a revision of discount rates of $5 million.
4.
Includes foreign exchange gains and losses, gains and losses on hedging activities, cancellation costs and other expenses not associated with the ongoing operations of the business.
5.
The impairment losses represent charges on exploration and evaluation of $1,557 million and oil and gas properties of $3,712 million.
6.
The 2020 amounts have been restated to reflect the changes in operating segments and portfolio reporting for LNG revenue.