"Our international exploration strategy is taking shape, with new acreage in Myanmar and our entries into Morocco, Tanzania and Gabon just subsequent to the end of the half-year," Woodside Chief Executive Officer Peter Coleman said in a statement. "We continue to only pursue those opportunities where we see value for our shareholders."
The company reported a half-year profit after tax of $1.1 billion, which it said was supported by a record level of production of 46.5 million barrels of oil equivalent during the first half of the year.
Its second-half statement backs targets established in February, when Woodside said production success from 2013 would be replicated by a full-year 2014 production forecast of an increase to a range of 86 million to 93 million barrels.
Coleman said the production success so far was a testament to the reliability of its asset base.
The company this year pulled out of a plan to buy into the Leviathan gas field off the Israeli coast. Royal Dutch Shell said it was interested in pulling out of a longtime partnership with Woodside in an effort to cut down on costs.