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Chevron seals offshore deal

Chevron Australia has been awarded the exploration rights to a new offshore block in the Carnarvon Basin off the northwest coast of Australia. Chevron will operate the block, in the highly prospective Greater Gorgon area, and hold a 50 per cent interest, while Shell Development Australia and ExxonMobil will each hold a 25 per cent interest. The permit area covers an area of 2,650 square kilometres in Australia’s premier petroleum basin. Chevron Australia managing director Jay Johnson said the acreage, adjacent to the gas fields of the Chevron-led Gorgon Project, significantly expands the company’s interests in offshore Western Australia. “It reinforces the prominence of Australia in Chevron’s overall exploration and development plans. The work to support this bid reflects the advancement in our technical understanding of the complex geology of this basin,” he said. The three-year work program for the permit area includes geotechnical studies, 2-D seismic reprocessing, 3-D seismic survey acquisition and the drilling of two exploration wells. Seismic work will begin this year and depending on results there is potential for a further three-year work program.

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WA export revenue

7th-Alcoa of Australia$3.00bn
8th-Roy Hill Holdings$3.00bn
9th-Chevron$2.90bn
10th↑South32$1.70bn
11th↑Mineral Resources$1.50bn
50 exporters ranked by WA export revenue most recent financial year

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Oil and Gas Companies

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