Chevron, Woodside acquire blocks offshore Australia

Australian entity of oil major Chevron has acquired exploration interests in three offshore blocks located in the Northern Carnarvon Basin off Western Australia.

Chevron Australia said on Thursday that it acquired an interest in blocks WA-528-P, WA-529-P, and WA-530-P which cover 23,170 square kilometers. The three blocks are located some 220 km northwest of Dampier off the coast of Western Australia.

The company added that, through its affiliate, Chevron would be the operator with a 50 percent interest while Woodside Energy would hold the remaining 50 percent.

Chevron Australia managing director Nigel Hearne said this new acreage strengthened Chevron’s position in Australia’s premier hydrocarbon basin where there is an established network of production infrastructure, including the Chevron-operated Gorgon and Wheatstone projects.

Hearne added: “Offshore Western Australia is a global focus area for Chevron and these new exploration blocks add to our already significant gas position as the largest resource holder and liquefaction owner.

“Chevron Australia has discovered around 50 trillion cubic feet of gas resources, and through collaboration, we hope to commercialize this gas through the timely and efficient use of existing equity or third-party infrastructure. This supports our position as a leading operator and long-term supplier of clean and reliable natural gas to customers in Western Australia and the region.”

“Partnership is going to be crucial for ongoing investment in Western Australia’s resource sector and to maximize the value of the available resources and infrastructure for the benefits of local jobs, companies and energy security,” Hearne said.

Chevron has been present in Australia for more than 60 years through its Australian subsidiaries. Apart from Gorgon, Wheatstone, and domestic gas projects, Chevron manages its equal one-sixth interest in the North West Shelf Venture along with BHP, BP, Shell, MIMI, and Woodside.

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