Offshore staff

SAN RAMON, California -- Chevron Corp. subsidiary Chevron Australia Pty. Ltd. has been awarded exploration rights to acreage in the Greater Gorgon Area in the Carnarvon basin off the northwest coast of Australia.

The W06-12 permit area covers 3,000 sq km (1,150 sq mi) about 100 km (60 mi) northwest of the Australian coastline. The Carnarvon basin, Australia's premier petroleum basin, includes North West Shelf and Greater Gorgon Area resources.

The three-year work program for the permit area includes geotechnical studies, 180 km (110 mi) of 2D seismic reprocessing, 1,700 sq km (650 sq mi) of 3D seismic survey acquisition, and the drilling of an exploration well. Seismic work will begin this year. There is potential for a further three-year work program.

"This award demonstrates progress on Chevron's strategy to achieve superior exploratory success from a focused, high-impact exploration program," says John Watson, president, Chevron International Exploration and Production. "Australia continues to feature prominently in our plans to build an internationally competitive natural gas business to supply energy to both the country and other regions around the world."

Chevron Australia will operate the block with 50% interest. Partners include the Australian subsidiaries of ExxonMobil and Shell, which will each hold 25% interest.

2/21/2007