Chevron Successfully Bids for Two Offshore Blocks in Australia

Chevron Australia today announced that it had successfully bid for the exploration rights to two blocks in the Carnarvon Basin offshore Western Australia. Chevron Australia will be the operator and will hold a 100 percent interest in the blocks.

The permit areas, WA-455-P and WA-456-P, are located in the Barrow Sub-basin of the Carnarvon Basin, approximately 80 kilometres northwest of the Western Australian coastline. The Carnarvon Basin is Australia’s premier petroleum basin, which includes the North West Shelf and Greater Gorgon areas.

Chevron Australia managing director, Roy Krzywosinski said, “Our successful bid for this exploration acreage reflects Chevron’s ongoing commitment to the exploration and development of Australia’s petroleum resources. It is also evidence of our intention to continue the pursuit of attractive growth opportunities in the region to meet the global energy demands.”

For the two permit areas, the initial three-year work program includes the acquisition and processing of two-dimensional seismic, geotechnical studies and the drilling of three exploration wells in total. Seismic work will begin later this year.

“We plan to use Chevron’s leading edge technology and extensive deepwater project experience to deliver greater value and safe practices,” added Krzywosinski.

Chevron is one of the world’s leading integrated energy companies and through its Australian subsidiaries, has been present in Australia for almost 60 years. With the ingenuity and commitment of more than 2,000 people, Chevron Australia leads the development of the Gorgon and Wheatstone natural gas projects; manages its equal one-sixth interest in the North West Shelf Venture; and operates Australia’s largest onshore oilfield on Barrow Island and the Thevenard Island oilfields. The company is also a participant in the Browse liquefied natural gas development and is a significant investor in exploration offshore northwest Australia.

Source:Chevron , July 8, 2011;

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