Chevron Announces Further Natural Gas Discovery Offshore Australia
Satyr-4 Discovery Supports Company's Long-Term Growth Plans for Gorgon
Chevron Corporation (NYSE: CVX) today announced further drilling success
by its Australian subsidiary in the Greater Gorgon Area, located in the
Carnarvon Basin, a premier hydrocarbon basin.
The Satyr-4 exploration discovery well confirmed approximately 220 feet
(67 meters) of net gas pay. The well is located in the WA-374-P1
permit area approximately 75 miles (120 kilometers) northwest of Barrow
Island, off the Western Australian coast. The well was drilled in 3,570
feet (1,088 meters) of water to a total depth of 15,023 feet (4,579
meters).
'This latest discovery is a further demonstration of how we are
achieving superior success from a focused and high-impact exploration
program in a key hydrocarbon basin,? said George Kirkland, vice
chairman, Chevron Corporation.
Melody Meyer, president, Chevron Asia Pacific Exploration and Production
Company, said, 'Satyr-4 further underscores Chevron′s continuing success
in this prolific block and supports our long-term growth plan for the
Gorgon Project, and our goal to be a leading LNG supplier to the Asia
Pacific region.?
Chevron Australia is the operator of WA-374-P with a 50 percent interest
while Shell Development (Australia) Pty Ltd and Mobil Australia
Resources Company Pty Limited each hold 25 percent.
Chevron is one of the world′s leading integrated energy companies, with
subsidiaries that conduct business worldwide. The company is involved in
virtually every facet of the energy industry. Chevron explores for,
produces and transports crude oil and natural gas; refines, markets and
distributes transportation fuels and lubricants; manufactures and sells
petrochemical products; generates power and produces geothermal energy;
provides energy efficiency solutions; and develops the energy resources
of the future, including biofuels. Chevron is based in San Ramon, Calif.
More information about Chevron is available at www.chevron.com.
Notes to Editor:
1: Chevron has made the previous natural gas discoveries in
WA-374-P:
Satyr-1: http://www.chcom/news/press/release/?id=2009-12-14
Cautionary Statement Relevant to Forward-Looking Information for
the Purpose of 'Safe Harbor? Provisions of the Private Securities
Litigation Reform Act of 1995.
Some of the items discussed in this press release are forward-looking
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or start-up of planned projects; the potential disruption or
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these forward-looking statements, which speak only as of the date of
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a result of new information, future events or otherwise.
for Chevron Corporation
Alex Yelland, Singapore, +65 9720 2560
