Western Australia’s abundance of natural gas is emerging as a key resource for Australia and transforming it into a significant energy player on the world stage. Since mid-2009, we have announced 25+ offshore discoveries, and discovered a total of ten trillion cubic feet of resources – more than 1.5 billion barrels of oil equivalent.
Our exploration and appraisal program is an important part of building economic prosperity here in Australia and around the globe.
We are the largest exploration lease holder in Australia and always look at opportunities to expand our resource base and add to our asset portfolio. We have an impressive queue of projects that will support energy security for Australia and drive growth.
asia-pacific rich with opportunities
Success starts with the geology. It requires a detailed regional understanding of the potential of a basin to identify reservoirs and hydrocarbon traps. We have a talented and creative exploration team with global experience who are able to use our 70,000 square kilometres of seismic data to find new opportunities and prospects.
We continue to expand our already substantial holdings and in February 2017, Chevron was successful in acquiring new exploration acreage (EP WA-526-P) in the Northern Carnarvon Basin within close proximity to the Gorgon Project.
Chevron Australia’s affiliate was awarded three new exploration blocks in late 2017 in the Northern Carnarvon Basin. Blocks WA-528-P, WA-529-P and WA-530-P cover more than 23,000 square kilometres and are located about 220 km northwest of Dampier off the coast of Western Australia.
We hold the largest natural gas resource position in Australia in the prized offshore North West Shelf region. Our operated interest spans more than 42,000 square kilometres of acreage and our non-operated interests across more than 14,000 square kilometres - including our 16.7 percent participation in the North West Shelf Venture.
Chevron enters Good Standing Agreement over Exploration Permits EPP44 and EPP45
Chevron Australia Pty Ltd and the Joint Authority for the Commonwealth/South Australia offshore area have entered into a good standing agreement with respect to Exploration Permits EPP44 and EPP45 in the Great Australian Bight.
Chevron will satisfy the GSA through expenditure on projects consistent with current Government guidelines.