PERTH, Western Australia, 28 May 2019 – Chevron Australia and the Gorgon joint venture participants today announced the start of the Gorgon Stage Two drilling campaign off the northwest coast of Western Australia.

Gorgon Stage Two is an expansion of the existing subsea gas gathering network on the Chevron-led Gorgon facility and is part of the Project’s original development plan.

Chevron Australia Managing Director Al Williams said the campaign will drill 11 additional wells in the Gorgon and Jansz-Io gas fields to maintain long-term natural gas supply to the 15.6 million tonnes per annum LNG and domestic gas plants on Barrow Island. 

“This development supports Chevron’s long-term supply of affordable, reliable and ever-cleaner energy to Western Australia and our regional neighbours,” Mr Williams said. 

To date, the Gorgon Project has spent more than $40 billion on Australian goods and services and awarded more than 700 contracts to Australian companies.

“This expansion will support local employment and contract opportunities on Gorgon for decades to come, with immediate benefits flowing through the drilling and completion activities, subsea infrastructure installation and local project management,” Mr Williams added.

Chevron is working collaboratively with government, industry and others to build Perth as an energy centre of excellence which will help boost jobs, drive technological innovation and support a local services sector.

Fast facts:

• The development, in water depths of between 220 and 1320 metres, will consist of seven new wells in the Gorgon Field and four new wells in the Jansz-Io Field.
• Wells in the Gorgon Field will be drilled by a mobile offshore drilling unit, DD1. The rig was recently in Dampier preparing for the campaign.
• Drilling in the Jansz-Io Field will commence later in the campaign, using a specialised drill ship, KG-2.
• The campaign will include system upgrades on Barrow Island and the offshore installation of: 
  • 11 vertical subsea production trees
  • More than 46KM of production pipelines
  • 28.7KM of control umbilicals
  • 2,840 tonnes of subsea structures
• The Chevron-operated Gorgon Project is a joint venture between the Australian subsidiaries of Chevron (47.3 percent), ExxonMobil (25 percent), Shell (25 percent), Osaka Gas (1.25 percent), Tokyo Gas (1 percent) and JERA (0.417 percent).

Chevron is one of the world's leading integrated energy companies and through its Australian subsidiaries, has been present in Australia for more than 60 years. With the ingenuity and commitment of thousands of workers, Chevron Australia operates the Gorgon and Wheatstone natural gas facilities; manages its equal one-sixth interest in the North West Shelf Venture; operates Australia’s largest onshore oilfield on Barrow Island; and is a significant investor in exploration.

NOTICE
CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

This press release contains forward-looking statements relating to Chevron’s operations that are based on management’s current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “forecasts,” “projects,” “believes,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on schedule,” “on track,” “is slated,” “goals,” “objectives,” “strategies,” “opportunities” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings and expenditure reductions; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during extended periods of low prices for crude oil and natural gas; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats and terrorist acts, crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries, or other natural or human causes beyond its control; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from other pending or future litigation; the company’s future acquisition or disposition of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government-mandated sales, divestitures, recapitalizations, industry-specific taxes, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the impact of the 2017 U.S. tax legislation on the company’s future results; the effects of changed accounting rules under generally accepted accounting principles promulgated by rulesetting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 19 through 22 of the company’s Annual Report on Form 10-K. Other unpredictable or unknown factors not discussed in this report could also have material adverse effects on forward-looking statements.