Chevron Australia secures exploration interests in Northern Carnarvon Basin

6 October 2017 (Last Updated October 25th, 2017 12:35)

Chevron Australia has acquired exploration interests in three offshore blocks in the Northern Carnarvon Basin off the coast of Western Australia.

Chevron Australia has acquired exploration interests in three offshore blocks in the Northern Carnarvon Basin off the coast of Western Australia.

The newly acquired acreage comprises Blocks WA-528-P, WA-529-P and WA-530-P. The interests are expected to strengthen Chevron’s position in the Australia’s oil-rich basin, which also hosts Gorgon and Wheatstone Projects operated by the company.

Chevron Australia managing director Nigel Hearne said: “Offshore Western Australia is a global focus area for Chevron and these new exploration blocks add to our already significant gas position as the largest resource holder and liquefaction owner.

“Chevron Australia has discovered around 50 trillion cubic feet of gas resources, and through collaboration we hope to commercialise this gas through the timely and efficient use of existing equity or third-party infrastructure.

“Chevron Australia has discovered around 50 trillion cubic feet of gas resources.”

“This supports our position as a leading operator and long-term supplier of clean and reliable natural gas to customers in Western Australia and the region.”

The three acquired blocks cover an area of 23,170km² and are located nearly 220km north-west of Dampier.

Through its affiliate, Chevron will operate the three blocks with 50% interest, while the remaining 50% stake will be owned by Woodside Energy.

Hearne added: “Partnership is going to be crucial for ongoing investment in Western Australia’s resource sector and to maximise the value of the available resources and infrastructure for the benefits of local jobs, companies and energy security.”

Chevron has been present in Australia for the past six decades, where it operates Gorgon and Wheatstone LNG and domestic gas projects, as well as managing a one-sixth interest in the North West Shelf Venture.