Chevron find more natural gas in the Greater Gorgon area
Chevron Corporation (NYSE:CVX) today announced an additional natural gas discovery in the Greater Gorgon area’s Carnarvon Basin, Australia’s premier offshore hydrocarbon zone.The Achilles-1 exploration well, located approximately 100 miles (160 kilometers) off the coast of northwest Australia, was drilled to a total depth of 14,800 feet (4,500 meters) and encountered approximately 325 feet (100 meters) of net gas pay.
“This discovery is located in a highly prospective area where Chevron is the leading leaseholder, and it adds to our recent exploration successes,” said George Kirkland, Chevron’s executive vice president, Global Upstream and Gas. “The discovery will also build on the supply that underpins the projected 40-year life of the Gorgon project.”
Jim Blackwell, president of Chevron Asia Pacific Exploration and Production, said that offshore northwest Australia remains one of the company’s focus areas for global exploration.
“As we expand our Australia natural gas business, additional discoveries in the most prospective areas in the region will be expected to be tied into facilities already under construction or being planned,” said Blackwell.
The Achilles-1 well is located in the WA-374-P permit area in the Greater Gorgon area. Chevron Australia is the operator of WA-374-P with 50 percent interest, while Shell Development (Australia) and ExxonMobil Australia each hold 25 percent. Chevron is currently spudding an additional exploration well (Satyr-1) in the permit area.
In August 2009, Chevron announced natural gas discoveries of 375 feet (115 meters) of net gas pay at the Clio-2 well and 110 feet (34 meters) of net gas pay at the Kentish Knock-1 well, located offshore Western Australia.
