Chevron and Shell's Australian subsidiaries have successfully bid for the exploration rights to four deepwater blocks believed to have significant natural gas potential in the Carnarvon Basin off Australia's northwest coast.
Chevron Australia and Shell Development Australia will each hold a 50% interest in the exploration rights to the gas feature.
The permit areas are located on the Exmouth Plateau, 160 to 480 miles northwest of the Western Australian coastline. The Plateau is the deep-water frontier of the Carnarvon basin, Australia’s premier petroleum basin, which includes the North West Shelf and Greater Gorgon resources.
Chevron’s proposed three-year work program includes the acquisition of 3,068 miles of two-dimensional seismic, 1,359 square miles of three-dimensional seismic and the drilling of two exploration wells. Seismic work will begin later this year, with potential for a further three-year work program.
John Watson, Chevron International Exploration and Production president, said, Our successful bid for this exploration acreage reflects Chevron’s ongoing commitment to the exploration and development of Australia’s petroleum resources. It is also evidence of our intention to continue the pursuit of attractive growth opportunities in the region as we build an integrated global gas business.