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Chevron Announces Two Natural Gas Finds in Australia
Discoveries in deepwater frontier support company’s long-term growth plans
PERTH, Western Australia, 19 August 2009 – Chevron Australia Pty Ltd, along with Shell Development (Australia) Pty Ltd, today announced that two deepwater gas discoveries had been made in jointly held blocks located in the Carnarvon Basin offshore Western Australia, Australia’s premier hydrocarbon basin.
The Clio-2 discovery well follows the significant Clio-1 discovery and is located in the WA-205-P permit area approximately 150 kilometres (90 miles) northwest of Onslow. Situated in 990 metres (3,200 feet) of water and drilled to a depth of 4,405 metres (14,400 feet), the well discovered 115 metres (375 feet) of net gas pay.
The Kentish Knock-1 discovery well is located 300 kilometres (185 miles) northwest of the Western Australian coastline in the WA-365-P permit area. Situated within the Exmouth Plateau, the area is the deepwater frontier of the Carnarvon Basin. In approximately 1,200 metres (4,000 feet) of water and drilled to a depth of 2,500 metres (8,300 feet), the well discovered 34 metres (110 feet) of net gas pay.
Chevron Australia Managing Director Roy Krzywosinski said, “These two gas discoveries demonstrate our commitment to actively exploring and developing Western Australia’s world-class gas resources.”
Krzywosinski added that the company is realising the opportunities we have as a leading lease holder in the Carnarvon Basin noting that, “As we move forward with the Chevron operated Gorgon and Wheatstone natural gas projects, Western Australia will play a key role in the growth of our global natural gas business.”
Chevron Australia is the operator of WA-205-P with 66.66 percent interest while Shell Development (Australia) holds the remaining interest. Chevron Australia also operates permit WA-365-P with a 50 percent interest while Shell Development (Australia) holds the remaining interest.
Chevron is one of the world's leading integrated energy companies and through its Australian subsidiary, has been present in Australia for more than 50 years. With the ingenuity and commitment of more than 1,400 people, Chevron Australia manages its equal one-sixth interest in Australia’s largest resource project, the North West Shelf Venture; operates Australia’s largest onshore oilfield on Barrow Island and the Thevenard Island oilfields; and leads the development of the Gorgon and Wheatstone LNG and domestic gas projects. The company is also a participant in the Browse LNG development and is a significant investor in exploration offshore north-west 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.chevron.com/australia
Shell is a global, integrated energy company that has been operating in Australia since 1901 and employs nearly 3,000 people in Australia. It has a one-sixth interest in the North West Shelf Venture, a 100% interest in the Prelude development offshore northwest Australia, as well as equity interests in other developments including Gorgon, the Browse Joint Venture and Sunrise Joint Venture. It is also active in the coal seam gas industry, with its Shell Australia LNG Project in Gladstone, Queensland.