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Natural gas found in Australia

Natural gas found in Australia
Chevron Corporation announced an additional natural gas discovery in the Carnarvon Basin offshore Western Australia.

Chevron Corporation announced an additional natural gas discovery in the Carnarvon Basin offshore Western Australia.

Chevron Corporation, through its subsidiary Chevron Australia Pty Ltd, yesterday announced an additional natural gas discovery in the Carnarvon Basin offshore Western Australia. The discovery is located in Australia"s premier hydrocarbon basin, where Chevron is the leading leaseholder.

The exploration well, Satyr-1, located 100 miles (160 kilometers) offshore in the Greater Gorgon Area in 3,510 feet (1,070 meters) of water, was drilled to a total depth of 14,960 feet (4,560 meters). The well discovered 425 feet (130 meters) of net gas pay.

?Our offshore drilling campaign in northwestern Australia continues to deliver results and is expected to provide additional natural gas supplies to underpin the Chevron-operated Gorgon natural gas project,? said George Kirkland, executive vice president, Global Upstream and Gas, Chevron Corporation.

?The success of Satyr-1, following closely on the Achilles-1 discovery, highlights the quality of Chevron"s exploration capability in the region and the significance of Australia to Chevron"s energy portfolio,? said Jim Blackwell, president, Chevron Asia Pacific Exploration and Production.

Satyr-1 is located in the WA-374-P permit area. Chevron Australia is the operator with a 50 percent interest. Shell Development (Australia) Pty Ltd and Mobil Australia Resources Company each hold a 25 percent interest.

The initial Gorgon Project development, in northwestern Australia, will include a three-train, 15 million-metric-tons-per-year liquefied natural gas facility and a domestic gas plant.

Chevron Corporation 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 approximately 62,000 employees who operate across the energy spectrum. Chevron 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 and other renewables.

www.TurkishMaritime.com.tr

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