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Chevron Welcomes EPA decision on Gorgon Project

April 30, 2009

PERTH, Western Australia, 30 April 2009 – Chevron Australia Pty Ltd today welcomed the Western Australian Environmental Protection Authority’s (EPA) recommendation that the revised and expanded Chevron-operated Gorgon Project could meet the EPA’s environmental objectives.

The revised and expanded proposal adds a third, five million tonne per annum LNG train to the original two train proposal already approved for Barrow Island.

Managing Director for Chevron Australia, Roy Krzywosinski, welcomed the EPA’s decision as an important step in the regulatory process. The company can now continue to assess the conditions as we work towards a final investment decision in the second half of this year.

“The Gorgon Project is Australia’s single largest resource project which is set to deliver huge economic benefits and create thousands of jobs.

“The Gorgon Project is expected to boost gross domestic product, generate significant government revenue and create local opportunities through goods and services. It also includes a domestic gas capability which will provide more energy security for Western Australians,” said Krzywosinski.

Chevron Australia Greater Gorgon Area General Manager Colin Beckett said, “We are currently reviewing and assessing the EPA’s proposed conditions. We acknowledge, however, that under the State’s process the Government provides final approval for the Project.”

Beckett added, “For the continued development and sustainability of Australia’s LNG industry, it is important that the Gorgon Project can successfully complete the approvals process in as timely a period as possible.

“The Joint Venture participants, Chevron (Operator), Shell and ExxonMobil are committed to moving the project forward on Barrow Island and believe the environmental impacts of the Project can be minimized and effectively managed in accordance with environmental best practice.

“We have a 40 year track record of protecting biodiversity on Barrow Island. With proper management and planning we have demonstrated that development and conservation can coexist,” said Beckett.

The environmental assessment for the Gorgon Project has been the most comprehensive in Australia. It is the result of six years of preparation, including the research and contributions of numerous independent experts, and extensive community consultation.

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 1,200 people, Chevron Australia operates the Gorgon Project, the Wheatstone Project and the Barrow and Thevenard Island oilfields. The company is a foundation partner in the North West Shelf Venture and the Browse LNG development, as well as a significant investor in exploration and appraisal activities offshore north-western Australia, one of four global focus areas for Chevron. www.chevron.com/australia

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