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ASX Announcement Thursday , 21 January 2021 ASX : WPL OTC : WOPEY Woodside Woodside Petroleum Ltd. ACN 004 898 962 Mia Yellagonga 11 Mount Street Perth WA 6000 Australia T +61 8 9348 4000 www.woodside.com.au FOURTH QUARTER REPORT FOR PERIOD ENDED 31 DECEMBER 2020 Performance highlights • Delivered production of 24.9 MMboe , down 2 % from Q3 2020 , contributing to record annual production of 100.3 MMboe . • Delivered sales revenue of $ 920 million , up 32 % from Q3 2020 . • Delivered sales volume of 29.1 MMboe , up 9 % from Q3 2020 . • Installed the Pluto water handling module on the Pluto offshore platform . Executing a clear plan Received production licences for the Scarborough development . • Doubled the quantity of LNG to be supplied to Uniper from 2021 . • Executed gas processing agreements for processing third - party gas through the NWS Project . Completed acquisition of Cairn's interest in the Sangomar Field Development . Woodside CEO Peter Coleman said 2020 annual production was 12 % higher than in 2019. Sales revenue in Q4 2020 rose 32 % compared with the third quarter on the back of higher oil and gas prices . " Our teams delivered significant progress on our growth projects during the fourth quarter . Production licences were awarded for the processing of Scarborough gas through an expanded Pluto facility and we remain on track for a targeted final investment decision on the development in the second half of this year . " In another sign of market support for Scarborough , we have recently doubled the volume of gas to be supplied to Uniper from 2021 under our existing binding long - term sale agreement . " Oil and gas prices have strengthened considerably heading into the first quarter of 2021. We agreed to our highest ever spot LNG price for delivery in the coming quarter , surpassing our previous record set in 2012 . " Similarly , Vincent crude and Wheatstone condensate are also being priced at all - time record premiums to Brent , compounding the impact of the sharp increases in crude pricing and reflecting continued improving economic conditions in much of Asia . " In Senegal , we completed the acquisition of Cairn's interest in the Sangomar offshore oil development and a contract was awarded for the operations and maintenance of the floating production storage and offloading facility , which is targeted for delivery and first oil in 2023 . “ Late in the quarter , the North West Shelf Project participants executed fully termed agreements to process third - party gas from Pluto and Waitsia , marking the first step towards securing the long - term future of Australia's first and largest LNG plant as a tolling facility , " he said . Contacts : INVESTORS Damien Gare W : +61 8 9348 4421 M : +61 417 111 697 E : investor@woodside.com.au MEDIA Christine Forster M : +61 484 112 469 E : christine.forster@woodside.com.au This ASX announcement was approved and authorised for release by Woodside's Disclosure Committee .