Australia: Chevron*s Brederode-1 Discovery Continues Recent Exploration and Drilling Success

Chevron Corp.  today  a natural gas discovery in the Exmouth Plateau area of the Carnarvon Basin offshore Western Australia. The discovery is located in Australia’s premier hydrocarbon basin, where Chevron is a leading lease holder.

The Brederode-1 exploration well is located within the WA-364-P permit area approximately 217 miles (350 km) northwest of Onslow. Situated in 4,550 feet (1,387 m) of water, the well was drilled to a depth of 9,022 feet (2,750 m) and encountered approximately 49 feet (15 m) of net gas pay.

George Kirkland, vice chairman, Chevron, said, “We are encouraged by the Brederode-1 exploration success, which is further evidence of the natural gas potential in the Exmouth Plateau area and the frontier opportunities offshore northwest Australia.”

Jim Blackwell, president, Chevron Asia Pacific Exploration and Production Co., said the Brederode-1 discovery, which follows the 2009 Kentish Knock discovery in the same area, extends the gas resources farther offshore Australia and continues to grow our discovered gas portfolio in Australia.

“This discovery expands the resource potential in the Carnarvon Basin frontier and demonstrates our long-term commitment to developing Australia’s world-class natural gas resources,” said Blackwell.

Chevron is the largest holder of undeveloped gas resources in Australia.

Chevron’s Australian subsidiary is the operator of WA-364-P with 50 percent interest. Shell Development (Australia) also holds 50 percent interest.

Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company’s success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy industry. The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif.

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Source: Chevron, August 13, 2010: