Chevron Australia Awarded New Acreage Offshore W Australia

SYDNEY (Dow Jones Newswires), Aug. 17, 2009

Chevron Corp. said Monday that it and Royal Dutch Shell PLC have been awarded new rights to a deepwater exploration permit, with gas potential, in the Exmouth Plateau region off the coast of Western Australia.

In a statement, Chevron said it will be the operator of the field, with both parties owning 50% of the acreage.

"The area is regarded as the deepwater frontier of the Carnarvon Basin, Australia's premier hydrocarbon basin, which includes the North West Shelf and the Greater Gorgon areas," Chevron said in a statement. "This award represents our ongoing long-term commitment to grow our natural gas business in Western Australia," Chevron Australia Managing Director Roy Krzywosinski said.  

Copyright (c) 2009 Dow Jones & Company, Inc.

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