The blocks S12-2 and S12-3 includes around 8 million acres or 32,375km², and are situated about 275 miles or 443km west of Port Lincoln off the south Australia coast.
Chevron Australia will be the operator of blocks with a 100% interest.
Chevron Australia managing director Roy Krzywosinski said the Bight Basin is similar in size to the Gulf of Mexico and the two blocks contain significant exploration potential.
Chevron Asia Pacific exploration and production company president Melody Meyer 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 explores, produces and transports crude oil and natural gas, as well as refines markets and distributes transportation fuels and lubricants, and manufactures and sells petrochemical products.
