Underlying net profit after tax was A$1.18 billion, a decrease of 15%, compared to the 2006 underlying net profit of A$1.39 billion.
The result was reportedly affected by adverse US dollar exchange rate fluctuation, higher exploration expenses and increased depreciation and amortization which outweighed the benefits of both higher production and commodity prices.
Annual revenue, including discontinued operations, was A$4 billion for 2007, up 5%, compared to 2006. Production of 70.6 million barrels oil equivalent (MMboe) in 2007 was up 4%, extending an upward trend since 2004, the company said.
Woodside announced net proved and probable reserve additions of 108MMboe in 2007, increasing the organic three-year rolling reserves replacement ratio by 334%, excluding acquisitions and divestments.
