Vermilion is an international energy producer focused in three core regions, North America, Europe and Australia. Vermilion is the only one of its Canadian peers with international exposure and our diversification has been a key factor in our success. Vermilion's shareholders have benefited from our international focus through higher realized pricing, more stable cash flows, a more diversified and adaptable project portfolio and better M&A opportunities.
Vermilion's European assets consist of onshore and offshore operations that deliver premium commodity pricing through Brent-priced light oil production and European natural gas prices that are 2-2.5x greater than North American gas prices. Our European assets contribute approximately 35% of total corporate production.
Vermilion holds a 100% working interest in the Wandoo field, offshore Australia. Vermilion's Australian oil production receives premium pricing due to Brent-indexing and the strong, long-term, strategic relationships we have cultivated with our key customers in the region. Australian production contributes approximately 5% of total corporate production.