Chevron awarded new acreage offshore Australia

Chevron Australia Pty Ltd. has been awarded the exploration rights to offshore block W05-16 in the Carnarvon basin in Australia.

Offshore staff

(Asia-Pacific) - Chevron Australia Pty Ltd. has been awarded the exploration rights to offshore block W05-16 in the Carnarvon basin in Australia.

The block, in the highly prospective Greater Gorgon area, is located off the northwest coast of Australia.

Chevron will be the operator of the block and will hold a 50% interest. Shell Development Australia and ExxonMobil each will hold a 25% interest in the block.

The W05-16 permit area covers an area of 1,020 sq mi (2,650 sq km) and lies approximately 60 mi (100 km) northwest of Barrow Island.

The Carnarvon basin includes both the North West Shelf and Greater Gorgon Area resources.

The three-year work program for the permit area includes geotechnical studies, approximately 1,500 mi (2,350 km) 2-D seismic reprocessing, 695 sq mi (1,800 sq km) 3-D seismic survey acquisition, and the drilling of two exploration wells.

Seismic work will begin this year.

There is potential for a further three-year work program.

01/31/06

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