Chevron Buys Share in Exploration Blocks Off Australia

Chevron Australia announced it has acquired exploration interest in two offshore blocks located in the Bight Basin, a deepwater frontier basin.

Blocks S12-2 and S12-3, which span more than 32,000 square kilometres (eight million acres), are located approximately 443 kilometres (275 miles) west of Port Lincoln off the South Australian coast. Chevron Australia is the operator with a 100 percent interest.

Melody Meyer, president Chevron Asia Pacific Exploration and Production said, “The acquisition of blocks S12-2 and S12-3 demonstrates Chevron’s continued focus on pursuing high-impact exploration opportunities to expand its resource base and reinforces the importance of Australia to Chevron’s global growth strategy.”

Chevron Australia Managing Director Roy Krzywosinski added, “We are extremely pleased to be awarded the S12-2 and S12-3 offshore blocks located in the Bight Basin. The Bight Basin is similar in size to the Gulf of Mexico and these two blocks contain significant exploration potential.”

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LNG World News Staff, October 23, 2013; Image: Chevron