Wheatstone & Iago is a producing conventional gas field located in shallow water in Australia and is operated by Chevron Australia. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block WA-48-L, WA-47-L, and WA-46-L, with water depth of 3,480 feet. Buy the profile here.

Field participation details

The field is owned by Chevron, Chubu Electric Power, Japan Oil, Gas and Metals National, Kuwait Petroleum, Kyushu Electric Power, Mitsubishi, Nippon Yusen Kabushiki Kaisha and Tokyo Electric Power Co Holdings.

Production from Wheatstone & Iago

The Wheatstone & Iago conventional gas field recovered 18.26% of its total recoverable reserves, with peak production in 2022. The peak production was approximately 28.05 thousand bpd of crude oil and condensate, 179.00 Mmcfd of natural gas and 906 Mmcfd of liquid natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2047. The field currently accounts for approximately 7% of the country’s daily output.

Remaining recoverable reserves

The field is expected to recover 1,574.10 Mmboe, comprised of 109.91 Mmbbl of crude oil & condensate, 1,043.43 bcf of natural gas reserves and 7,741.66 bcf of liquid natural gas reserves. Wheatstone & Iago conventional gas field reserves accounts 0.54% of total remaining reserves of producing conventional gas fields globally.

About Chevron Australia

Chevron Australia Pty Ltd (Chevron Australia) an oil and gas exploration company which conducts developmental projects such as a liquefied natural gas and domestic gas joint ventures, and exploration program based on offshore interests. The company is headquartered in Perth, Western Australia, Australia.

For more details on the Wheatstone & Iago Conventional Gas Field, buy the profile here.


GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.

This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.