Woodside Petroleum : 11.04.2016 Media Release - Woodside and Kogas Extend Partnership

HEADING

Media Release

Monday, 11 April 2016

Woodside Energy Ltd.

ACN 005 482 986

Woodside Plaza

240 St Georges Terrace Perth WA 6000 Australia

T: +61 8 9348 4000

F: +61 8 9214 2777

www.woodside.com.au

WOODSIDE AND KOGAS EXTEND PARTNERSHIP

Woodside and Korea Gas Corporation (KOGAS) are pleased to advise that they have signed a Memorandum of Understanding (MoU) for cooperation, extending the strong partnership between the companies.

The MoU was signed in Perth today by Woodside CEO Peter Coleman and KOGAS President and CEO, Mr Lee, Seung-Hoon.

The agreement, which renews a partnership in place since 2011, furthers cooperation between Woodside and KOGAS in a number of areas. These include developing future business arrangements, knowledge sharing, staff secondments, joint technology studies and workshops.

Woodside CEO Peter Coleman said today's signing gives both companies scope to create material benefits by working together to realise new project opportunities.

"The business case for continuing our cooperation with KOGAS is clear. Their capabilities and technological innovations in LNG are world class and complement Woodside's business," he said.

KOGAS CEO Lee, Seung-Hoon said today's event marked a new milestone for both companies to boost the growth engine for KOGAS and Woodside.

"Woodside's open-door system already gives us new business opportunities. Their outstanding capabilities as Australia's most experienced and competitive oil and gas company will promote us to the next level," he said.

Woodside currently supplies LNG to KOGAS, with LNG primarily sourced from Pluto LNG.

Woodside is Australia's most experienced liquefied natural gas (LNG) operator and largest independent oil and gas company. Our producing LNG assets in the north-west of Australia are among the world's best facilities and are characterised by strong safety and environmental performance in remote and challenging locations.

Today, our exploration portfolio includes emerging and frontier provinces in Australia and the Asia-Pacific region, the Atlantic margins and Latin America and Sub-Saharan Africa. We have significant equity interests in high-quality development opportunities. Our proven track record and distinctive capabilities are underpinned by more than 60 years of experience, making us a partner of choice.

KOGAS an abbreviation for Korea Gas Corporation, was incorporated by the Korean government in 1983. Since its founding, it has grown to become the world's largest LNG importer. As the nation's sole LNG provider, the Corporation is fully committed to providing clean, safe and convenient energy to the people of Korea. In keeping with this mission, KOGAS currently operates four LNG terminals and a nationwide pipeline network spanning over 4,440km in order to ensure stable supply for the nation.

KOGAS imports LNG from around the world and supplies it to power generation plants, gas-utility companies and city gas companies throughout the country. It produces and supplies natural gas, purifies and sells gas-related by- products, builds and operates regasification facilities and transmission networks, and explores, imports and exports natural gas for domestic and overseas markets.

Contacts: MEDIA Michelle Grady

W: +61 8 9348 5995

M: +61 418 938 660

E: michelle.grady@woodside.com.au