The Australian president of global oil and gas major Chevron has told a business audience that his bosses are confused and frustrated by Australian regulatory settings.
Chevron Australia and its joint venture partners will extend the life of the Gorgon project off the WA coast, after making a $3 billion investment call.
Chevron made its first payments under the Petroleum Resource Rent Tax in August, the latest in a long-running debate over industry's obligations which triggered a policy reform last year.
Decommissioning Chevron's oilfields on Barrow Island is expected cost more than $2.3 billion, with state and federal governments thought to be on the hook for at least $500 million of the bill.
Chevron Australia has started a round of redundancies, as it delivers on a mandate from US-based parent company Chevron Corporation to cut its global workforce by up to 20 per cent.
Chevron has announced a suite of leadership changes including Balaji Krishnamurthy moving from its technical center in Houston to become president of its Australian operations.
