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December 3, 2021updated 27 Apr 2022 12:57pm

Wheatstone & Iago Conventional Gas Field, Australia

By Carmen

Wheatstone & Iago is a producing conventional gas field located in shallow water in Australia and is operated by Chevron Australia. The field is located in block WA-48-L, WA-47-L, and WA-46-L, with water depth of 3,480 feet.

Field participation details

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


Production from Wheatstone & Iago

The Wheatstone & Iago conventional gas field recovered 17.21% of its total recoverable reserves, with peak production in 2019. The peak production was approximately 23.12 thousand bpd of crude oil and condensate, 152 Mmcfd of natural gas and 936 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 1,356.74 Mmboe, comprised of 90.47 Mmbbl of crude oil & condensate, 972.4 bcf of natural gas reserves and 6,625.16 bcf of liquid natural gas reserves. Wheatstone & Iago conventional gas field reserves accounts 0.46% 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.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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