17/08/2009 - 11:43

Chevron awarded gas exploration permit

17/08/2009 - 11:43

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Chevron Australia has been awarded a deepwater exploration permit to conduct initial surveys and then drilling at a potentially vast hydrocarbon basin which it jointly owns with Shell Development.

Chevron Australia has been awarded a deepwater exploration permit to conduct initial surveys and then drilling at a potentially vast hydrocarbon basin which it jointly owns with Shell Development.

Permit area W08-22 is located 480 kilometres northwest of WA in the Exmouth Plateau region.

The area is regarded as the deepwater frontier of the Carnarvon Basin, Australia's premier hydrocarbon basin, which includes the North West Shelf and the Greater Gorgon areas.

Chevron Australia will be the operator and its affiliate Chevron Services Australia Pty Ltd will hold a 50 percent interest. Shell Development (Australia) holds the remaining 50 percent.

 

 

Full announcement below:

 

Chevron Awarded New Acreage Offshore Western Australia

Permit area in Australia's premier high potential hydrocarbon basin

PERTH, Australia, 17 August 2009 -- Chevron Australia Pty Ltd today announced that, along with Shell Development (Australia) Pty Ltd, it has successfully bid for the rights to a deepwater exploration permit with gas potential offshore Western Australia.

Chevron Australia will be the operator and its affiliate Chevron Services Australia Pty Ltd will hold a 50 percent interest. Shell Development (Australia) holds the remaining 50 percent.

Permit area W08-22 is located 480 kilometres northwest of the Western Australian coastline in the Exmouth Plateau region. The area is regarded as the deepwater frontier of the Carnarvon Basin, Australia's premier hydrocarbon basin, which includes the North West Shelf and the Greater Gorgon areas.

"Chevron continues to make significant investments in Australia's natural gas resources. This award represents our ongoing long-term commitment to grow our natural gas business in Western Australia," said Chevron Australia Managing Director Roy Krzywosinski.

The work program for the 6,167 square kilometre block includes: geotechnical studies; seismic data acquisition, including a minimum 501 square kilometre new 3D seismic survey to be conducted during the first year; and the drilling of one exploration well in the first three-year term. A seismic acquisition program will begin by early 2010.

Chevron is one of the world's leading integrated energy companies and through its Australian subsidiaries, has been present in Australia for more than 50 years. With the ingenuity and commitment of more than 1,400 people, Chevron Australia manages its equal one-sixth interest in the North West Shelf Venture, operates Australia's largest onshore oilfield on Barrow Island and the Thevenard Island oilfields, and leads the development of the Gorgon and Wheatstone natural gas projects.

The company is also a participant in the Browse liquefied natural gas development and is a significant investor in exploration offshore northwest Australia, one of Chevron's four global focus areas for exploration.

In addition, Chevron's Perth-based Global Technology Centre provides technology support and solutions to the company's operations in Australia and around the world. www.chevron.com/australia

Shell is a global, integrated energy company that has been operating in Australia since 1901 and employs nearly 3,000 people. It has a one-sixth interest in the North West Shelf Venture, a 100% interest in the Prelude development offshore northwest Australia, as well as equity interests in other developments including Gorgon, the Browse Joint Venture and Sunrise Joint Venture.

It is also active in the coal seam gas industry, with its Shell Australia LNG Project in Gladstone, Queensland.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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