Chevron's 30+ year economic impact in Australia
Chevron’s development of the Gorgon and Wheatstone natural gas projects, together with Chevron’s other activities in Australia, will create enduring benefits that will help shape the Nation’s economic future and spearhead Australia’s growing importance as a global natural gas supplier.
The projects Chevron has invested in and its other activities in Australia1 have already delivered direct and indirect economic benefits to the Australian economy. Over the period 2009 to 2016, these include:
- More than $60 billion has been committed to Australian goods and services to develop the Gorgon and Wheatstone Projects2
- Almost 1000 contracts have been awarded to Australian companies to develop the Gorgon and Wheatstone Projects.
- Almost 19,000 workers have been directly employed.
- Paid more than $5 billion in Australian taxes.
- More than $1.5 billion has been invested in research and development in Australia.
- More than $53 million has been invested into universities and research institutes to help build local academic excellence and research capability.
- Almost $300 million has been committed to community investments, including $250 million to critical and social infrastructure in Onslow associated with the Wheatstone Project.
- Nearly $1.6 billion has been spent on exploration activities in Australia between 2009 and 2014, resulting in more than 25 offshore discoveries.
The projects Chevron has invested in and its other activities in Australia are expected to deliver significant long-term direct and indirect economic benefits to the Australian economy. Over the period 2009 to 20403, these include:
- More than $1 trillion to the Gross Domestic Product (GDP) of Australia, nearly $32 billion per year.
- Almost 150,000 full time equivalent (FTE) job years in Australia, nearly 5000 per year.
- $338 billion to Federal Government revenue.
- More than $320 billion added to real incomes in Australia, around $10 billion per year.
- At full capacity, the Gorgon and Wheatstone Projects have the capacity to produce 500TJ/d of domestic gas (domgas), around 50 per cent of current domgas supply in Western Australia.
- In operations, for every Chevron job, another job will be created in Australia.
1 Chevron’s head office activities in Australia are managed through the Australian Business Unit.
2 Value of work done to first quarter 2015.
3 The third party independent economic forecasts from ACIL Allen during the period 2009-2040 and are based on indicative estimates as of January 2015.
capital investment A$80 billion+
capital expenditure on Gorgon and Wheatstone by Chevron and our partners
contracts awarded to
gross domestic product A$1 trillion+
added to Australia’s GDP as a result of projects Chevron has invested in (2009 to 2040)
federal government revenue A$338 billion
generated in government revenue (2009-2040)
personal income A$320+ billion
added to real incomes
(2009 to 2040)
almost A$300 million
committed to community investments, including A$250 million to critical and social infrastructure in Onslow
invested into universities and research institutes (2009 to 2014)
spent on research and development in Australia
(2009 to 2014)
committed to suppliers through Gorgon and Wheatstone
(2009 to 2016)