Woodside forecasts future
Woodside Energy says its next era will be one of advanced technology, lower carbon emissions and new employment opportunities.
Woodside CEO and managing director Peter Coleman has spoken at the Sydney American Chamber of Commerce (AmCham).
“Our company is on the cusp of a new era as we prepare to progress the development of the Scarborough and Browse offshore gas fields, building on our existing operations in northern Western Australia,” Mr Coleman said.
With an eye to the future, he urged Australia to follow other countries’ leads and get serious about artificial intelligence (AI).
“Other countries are already manoeuvring to secure a position in the global value chain associated with the expansion of big data,” Mr Coleman said.
“Australia needs to be strategic about capturing a competitive advantage.”
Woodside has its own robotics laboratory and data science team working on boosting efficiency and solving the industry’s key challenges.
“The biggest real-world challenge is reducing global emissions while extending access to modern energy,” Mr Coleman said.
“We share the aspiration of global carbon neutrality by 2050 that is implicit in the Paris Agreement and we are working on what role we can play in delivering that.”
Woodside has an energy efficiency improvement target of five per cent in five years, and is aiming to be at net zero for its direct emissions by 2050.
“The stakes are high, we must ensure we do not leave the most vulnerable in our community behind as we navigate the major disruptions of a technology and energy transition,” Mr Coleman said.
“To achieve the dramatic emissions reduction that is required, we need to look at all forms of energy, not just natural gas.”