Chevron Makes Another Gas Discovery Off Australia

Chevron Corp. today announced a natural gas discovery by its Australian subsidiary in the Exmouth Plateau area of the Carnarvon Basin, offshore Western Australia.

The Satyr-3 well encountered approximately 243 feet (74 meters) of net gas pay. The well is located 113 miles (182 kilometers) north of Exmouth in the WA-374-P permit area, and was drilled in 3,688 feet (1,124 meters) of water to a depth of 13,369 feet (4,075 meters).

George Kirkland, vice chairman, Chevron Corporation, said: “Satyr-3 represents our thirteenth offshore discovery in Australia since mid-2009. This recent discovery reinforces the quality and value of our Australian exploration lease holdings in the Carnarvon Basin.”

Melody Meyer, president, Chevron Asia Pacific Exploration and Production Company, said: “The Satyr-3 discovery adds to our Australian resource base, further supporting our long-term plans to position Chevron as one of the world’s leading LNG suppliers. ”

Chevron s Australian subsidiary is the operator of the WA-374-P permit area and holds a 50 percent interest, with Exxon Mobil and Shell each holding 25 percent.

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LNG World News Staff, January 19, 2012