24.02.2010 annual report 2009.pdf - Woodside

80
Notes to and forming part
of the financial report
For the year ended 31 December 2009
2. Operating segments
The Group has identified its operating segments based on the internal reports that are reviewed and used by the executive
management team (the chief operating decision makers) in assessing performance and in determining the allocation of
resources. The following operating segments are identified by management based on the nature and geographical location of
the business or venture.
North West Shelf Business Unit
Exploration, evaluation, development, production and sales of Liquefied Natural Gas, pipeline natural gas, condensate, Liquefied
Petroleum Gas and crude oil from the North West Shelf ventures.
Australia Business Unit
Exploration, evaluation, development, production and sale of crude oil, condensate, Liquefied Petroleum Gas and pipeline natural
gas in assigned permit areas including Laminaria, Mutineer–Exeter, Enfield, Vincent, Otway, and Stybarrow ventures.
Pluto Business Unit
Exploration, evaluation and development of Liquefied Natural Gas in assigned permit areas.
United States Business Unit
Exploration, evaluation, development, production and sale of pipeline natural gas, condensate and crude oil in assigned permit
areas.
Other
This segment comprises the activities undertaken by all other Business Units.
No operating segments have been aggregated to form the above reportable operating segments.
Performance monitoring and evaluation
Management monitors the operating results of the Business Units separately for the purpose of making decisions about
resource allocation and performance assessment. The performance of operating segments is evaluated based on profit before
tax and net finance costs (profit before tax and interest) and is measured in accordance with the Group’s accounting policies.
Financing requirements, finance income, finance costs and taxes are managed at a Group level. Unallocated items comprise
non-segmental items of revenue and expenses and associated assets and liabilities not allocated to operating segments as they
are not considered part of the core operations of any segment.