Chevron Announces Natural Gas Find in Australia
Deepwater discovery supports company’s long-term growth plans for Gorgon
PERTH, Western Australia, 15 December 2009 – Chevron Australia Pty Ltd, together with Shell Development Australia and ExxonMobil, today announced further drilling success in a block located in the Carnarvon Basin offshore Western Australia, Australia’s premier hydrocarbon basin.
The Satyr-1 exploration well is located in the WA-374-P permit area approximately 160 kilometres northwest of Onslow in the Greater Gorgon Area gas fields. The well was spudded on October 5th in 1,070m water depth and was drilled to a total depth of 4,560 metres using the ENSCO 7500 dynamically positioned, semi-submersible rig. Results indicate approximately 130 metres of net gas pay.
Jim Blackwell, President of Chevron Asia Pacific Exploration and Production remarked that the success of Satyr-1, following closely on the heels of the Achilles-1 discovery, highlights the quality of Chevron’s exploration capability in the region and the significance of Australia to Chevron’s energy portfolio.
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 each hold 25 percent.
Chevron Australia Managing Director Roy Krzywosinski said, "We are delighted with the results of what is our largest ever drilling campaign offshore northwestern Australia.
"We are investing heavily in Australia on exploration, appraisal and seismic programs. The continued success of our broader drilling program will provide additional natural gas to underpin the Gorgon and Wheatstone Projects," said Krzywosinski.
Chevron is one of the world's leading integrated energy companies and through its Australian subsidiaries, has been present in Australia for more than 50 years. With the ingenuity and commitment of more than 1,400 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. 2
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
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