SENEGAL: Woodside achieves first oil at Sangomar

Woodside has achieved first oil from the Sangomar field offshore Senegal, marking the safe delivery
of the country’s first offshore oil project.

The Sangomar Field Development Phase 1 is a deepwater project including a stand-alone floating
production storage and offloading (FPSO) facility with a nameplate capacity of 100,000 barrels/day,
and subsea infrastructure that is designed to allow subsequent development phases.

“This is an historic day for Senegal and for Woodside,” said Woodside CEO Meg O’Neill. “First oil
from the Sangomar field is a key milestone and reflects delivery against our strategy. The Sangomar
project is expected to generate shareholder value within the terms of the production sharing contract.
“Delivering Senegal’s first offshore oil project safely, through a period of unprecedented global
challenge, demonstrates Woodside’s world-class project execution capability. We are proud of the
relationships we have formed with PETROSEN, the Government of Senegal and our key international
and local contractors to develop this nationally significant resource.”

General Manager of PETROSEN E&P Thierno Ly said he was pleased to reach this milestone.
“First oil from the Sangomar field marks a new era not only for our country’s industry and economy,
but most importantly for our people.

“This achievement is the result of the unwavering commitment of our teams, who have worked
diligently to overcome challenges and meet our strategic objectives in a complex and demanding
environment. We have never been so well positioned for opportunities for growth, innovation, and
success in the economic and social development of our nation.”

About Sangomar Field Development Phase 1
The Sangomar Field Development Phase 1 features the Léopold Sédar Senghor FPSO, named after
the first president of Senegal, which is moored approximately 100 kilometres offshore Senegal. The
vessel has a storage capacity of 1,300,000 barrels.
The Phase 1 development includes 23 wells (11 production wells, 10 water injection wells and 2 gas
injection wells). 21 of the 23 wells have been drilled and completed including 9 production wells. The
RSSD joint venture has also approved a 24th well (production well) that will be completed in the
current campaign.
The Sangomar Project is being progressed by the Rufisque Offshore, Sangomar Offshore and
Sangomar Deep Offshore (RSSD) joint venture, comprising Woodside (Operator and 82%
participating interest) and Societé des Petroles du Sénégal (PETROSEN) (18% participating interest).
The Sangomar Field Development Phase 1 project cost estimate remains within the provided range of
US$4.9-$5.2 billion. The drilling campaign at Sangomar is ongoing and Woodside expects to continue
commissioning activities and safely ramping up production through 2024.
Crude quality is expected to be ~31 degrees API which is in demand in European and Asian markets.
Woodside’s historical acquisition of participating interests in the RSSD joint venture from both
Capricorn Energy and FAR included certain contingent payments. Given current timing of first oil and
oil prices Woodside anticipates making both these payments. The final payments are subject to
ongoing production performance and oil price.