The Perth-based firm reported underlying net profit after tax of $1,247 million, compared to $1,632 million in the second half of 2024.
Woodside achieved an average price of $61.8 per barrel of oil equivalent in the first half, down from $62.6 per boe in the same period last year.
The company reported revenue of $6.59 billion for the six months ended June 30, up 10 percent year-on-year.
The company determined a fully franked interim dividend of 53 US cents per share (cps), representing an 80 percent payout ratio of underlying NPAT, and an annualized yield of 6.9 percent.
CEO Meg O’Neill noted that Woodside’s Scarborough and the second Pluto LNG train project is 86 percent complete, and targeting first LNG cargo in the second half of 2026.
In addition, Woodside made a final investment decision to develop the three-train, 16.5 mtpa Louisiana LNG project in April.
The total capital expenditure for the LNG project, pipeline, and management reserve is $17.5 billion.
The development has expansion capacity for two additional LNG trains and is fully permitted for a total capacity of 27.6 mtpa.
In June, Woodside completed the previously announced sell-down of a 40 percent stake in its Louisiana LNG project to US private equity firm Stonepeak.
In addition to Stonepeak, Woodsidesigned a non-binding collaboration agreement with Saudi Arabia’s energy behemoth Aramco to explore global opportunities.
This includes Aramco’s potential acquisition of an equity interest in and LNG offtake from the Louisiana LNG project.
“We continue to receive strong interest from high-quality potential partners as we explore further sell-downs of Louisiana LNG,” O’Neill said.
“This highlights the distinct value Woodside offers, with our business model well positioned to deliver compelling long-term value in the US LNG market, further differentiated by our extensive LNG experience, portfolio marketing capabilities, and balance sheet strength,” she said.
