The production figure is a record for the company, with the Pluto project also helping sales climb upward by 31% to 83.MMboe and revenue jump by 30% to $6.2 billion year on year.

"Our full-year production levels clearly demonstrate what a game-changer Pluto is for Woodside, with production levels consistently above our expectations," chief executive Peter Coleman said.

"It has resulted in a step-change in our annual sales revenues, positioning us to pursue value-adding growth opportunities such as potential LNG developments in Israel and exploration activities in Myanmar."

However, production may be plateauing, with its fourth quarter figure at 24.3MMboe, or an 8% drop quarter on quarter.

It said production from Pluto was 1.04 million tonnes of LNG and more than 777,000 barrels of condensate for the quarter, which was about a 3% drop quarter on quarter.

However, it said production from both the Pluto project and the North West Shelf development was lower for Q4 due to a week's outage at NWS and warmer weather reducing production capacity.

Meanwhile, it revealed that it had shipped its 3000th cargo of LNG from the NWS plant to the Japanese market last year.