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Woodside's $34B Browse Project Gains State Significance

Bloomberg Markets •
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Woodside Energy Group Ltd.'s A$48.7 billion ($34 billion) Browse gas field development has been declared a State Significant Project by the Western Australia government. This designation enables expedited approvals for one of Australia's largest untapped gas resources.

The Browse development represents a critical component of Woodside's growth strategy, targeting the Browse Basin off the northwest coast. The project encompasses multiple gas fields including Brecknock, Calliance, and Torosa, with estimated resources of 15.9 trillion cubic feet of dry gas and 453 million barrels of condensate.

State Significant Project status streamlines environmental and planning assessments through a coordinated whole-of-government approach. This reduces regulatory duplication while maintaining rigorous standards, potentially accelerating the final investment decision timeline.

Woodside continues to advance front-end engineering and design work while engaging with traditional owners and stakeholders. The company targets FID in the mid-2020s, with first production anticipated in the early 2030s, supporting both domestic energy security and LNG export commitments.