Chevron Announces Further Natural Gas Discovery Offshore Australia
Satyr-4 Discovery Supports Company's Long-Term Growth Plans for Gorgon
PERTH, Western Australia, Oct 25, 2012 - Chevron Corporation (NYSE: CVX) today announced further drilling success by its Australian subsidiary in the Greater Gorgon Area, located in the Carnarvon Basin, a premier hydrocarbon basin.
The Satyr-4 exploration discovery well confirmed approximately 67 metres (220 feet) of net gas pay. The well is located in the WA-374-P1 permit area approximately 120 kilometres (75 miles) northwest of Barrow Island, off the Western Australian coast. The well was drilled in 1,088 metres (3,570 feet) of water to a total depth of 4,579 metres (15,023 feet).
"This latest discovery is a further demonstration of how we are achieving superior success from a focused and high-impact exploration program in a key hydrocarbon basin,” said George Kirkland, vice chairman, Chevron Corporation.
Melody Meyer, president, Chevron Asia Pacific Exploration and Production Company, said, “Satyr-4 further underscores Chevron’s continuing success in this prolific block and supports our long-term growth plan for the Gorgon Project, and our goal to be a leading LNG supplier to the Asia Pacific region.”
Chevron Australia is the operator of WA-374-P with a 50 percent interest while Shell Development (Australia) Pty Ltd and Mobil Australia Resources Company Pty Limited each hold 25 percent.
Chevron is one of the world's leading integrated energy companies and through its Australian subsidiaries, has been present in Australia for 60 years. With the ingenuity and commitment of more than 3,000 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. Chevron is also a significant investor in exploration offshore northwest Australia and the company’s Perth-based Global Technology Centre provides technology support and solutions to the company’s operations in Australia and around the world. www.chevronaustralia.com
Notes to Editor:
1: Chevron has made the previous natural gas discoveries in WA-374-P:
Satyr- 2: http://www.chevronaustralia.com/media/mediastatements/exploration.aspx?NewsItem=7886375c-62ae-4876-b656-2028cf499117
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