Chevron Announces Natural Gas Discovery in Australia

Chevron Corporation  today announced a new exploration drilling success in the Carnarvon Basin offshore Western Australia, Australia’s premier hydrocarbon basin.

The Sappho-1 exploration well is located in the WA-392-P permit area approximately 87 miles (140 kilometers) northwest of Onslow. The well was drilled to a depth of 15,406 feet (4,696 meters) and encountered  approximately 246 feet (75 meters) of net gas pay.

George Kirkland, vice chairman, Chevron, said, “The Sappho-1 discovery is another example of the success of Chevron’s significant exploration investment in northwest Australia and will support our long-term plans to build a leading natural gas business to supply energy to Australia and the Asia-Pacific region.”

Jim Blackwell, president, Chevron Asia Pacific Exploration and Production Co., said, “This is the latest in a succession of back-to-back discoveries that underscore our exploration capabilities. These discoveries will underpin the Gorgon and Wheatstone projects.”

Chevron, through its Australian subsidiary, is the operator of WA-392-P with 50 percent interest, while Shell Development (Australia) and an Australian subsidiary of ExxonMobil each hold 25 percent.

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,July 14, 2010;