Chevron Announces Further Natural Gas Find in Australia
Orthrus-2 discovery builds on a series of drilling successes offshore Western Australia
PERTH, Western Australia, February 10, 2011 - Chevron Corp. (NYSE: CVX) today announced a further drilling success in the Carnarvon Basin offshore Western Australia, Australia’s premier hydrocarbon basin.
The Orthrus-2 well is located in the WA-24-R permit area approximately 100 kilometres (60 miles) northwest of Barrow Island. The well was drilled to a total depth of 4,297 metres (14,098 feet).
Combining both appraisal and exploration objectives, the well encountered 74 metres (243 feet) of net gas pay, of which 31 metres (102 feet) of net gas pay was encountered in a deeper, previously unexplored target interval in the Orthrus field.
George Kirkland, vice chairman, Chevron, said, “The find at Orthrus-2 represents our tenth offshore discovery in Australia within the past 18 months. Our successful drilling program offshore Western Australia demonstrates Chevron’s global exploration capability and our commitment to technical excellence and safe operations.”
Jim Blackwell, president, Chevron Asia Pacific Exploration and Production, said, “Our leading Carnarvon Basin leasehold and our accompanying exploration success help underpin further expansion opportunities on the Gorgon Project.”
Chevron’s Australian subsidiary is the operator of WA-24-R and holds a 50 percent interest, while Mobil Australia Resources Company Pty Limited holds 25 percent. Shell Development (Australia) Pty Ltd and BP Exploration Alpha Ltd each hold a 12.5 percent interest.
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, 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.chevronaustralia.com
END