Woodside acknowledges INPEX CORPORATION’s announcement of 15 May 2026 that it has, through a subsidiary, entered into an agreement with PetroChina International Investment (Australia) Pty Ltd (CNPC) to acquire CNPC’s 10.67% participating interest in the Browse Joint Venture.

The transaction is conditional on regulatory and joint venture approvals, including rights of pre-emption, which Woodside will consider as part of its usual transaction review processes.

The development concept for the proposed Browse to North West Shelf (NWS) Project involves processing resources from Browse – Australia’s biggest undeveloped offshore gas resource – through the NWS Project’s Karratha Gas Plant.

Key activities continue in the current concept definition phase in support of progress towards front-end engineering and design entry, including invitations to tender and engagement with regulators.

The Browse to NWS Project could make a significant contribution to the region’s energy supply and economic prosperity at a time when energy security matters more than ever.

An independent economic impact assessment by Deloitte Access Economics estimates the project is not just an energy project, but a whole-of-economy investment, delivering benefits well beyond the oil and gas sector.

It found the project could contribute a long-term uplift of more than A$141 billion in gross domestic product nationally and more than A$56 billion in taxes, including A$19.8 billion in petroleum resource rent tax.

About Woodside Energy

Woodside is a global energy company. We provide the energy the world needs to heat homes, keep the lights on and support industry.
Woodside operates across three continents managing a resilient and diversified portfolio of oil, gas and new energy projects.

About INPEX

INPEX is Japan’s largest exploration and production (E&P) company, engaged in the development and operation of oil and gas projects worldwide. We are committed to contributing to a brighter future by delivering energy in a sustainable way. As part of this commitment, we are also engaging in lower-carbon solutions such as CCS, hydrogen and integrated power supply, while pursuing new opportunities in the evolving energy landscape.

About CNPC

CNPC is China's largest oil and gas producer and supplier, as well as one of the world's major oilfield service providers and a globally reputed contractor in engineering construction. With a presence in almost 70 countries, we are seeking an even greater international role. We provide energy in a profitable manner, and always attach great importance to our social and environmental responsibilities.