Chevron wins deepwater permit off Australia

Chevron Australia Pty. Ltd. was awarded the rights to deepwater exploration permit area WO5-13 off Western Australia. The permit has gas potential.

Aug. 17, 2006

By OGJ editors
HOUSTON, Aug 17 -- Chevron Australia Pty. Ltd. was awarded the rights to deepwater exploration permit area WO5-13 off Western Australia. The permit has gas potential.

Chevron will become the operator and will hold a 50% interest. Shell Development (Australia) Pty. Ltd. will hold the remaining 50%.

The permit area is 100 miles northwest of the Western Australian coast in the Exmouth Plateau region. The plateau is the deepwater frontier of the Carnarvon basin, which includes the North West Shelf and the Greater Gorgon Area.

The work program for the 1,390-sq-mile block includes geotechnical studies and seismic data acquisition and interpretation. The initial 6-year work commitment includes the acquisition of 930 miles of seismic data. Seismic reprocessing will begin immediately, and a seismic survey will be conducted in 2007-08.

The award of this new acreage follows the award of four large deepwater blocks—WA-364-P, WA-365-P, WA-366-P, and WA-367-P—to Chevron Australia in the Exmouth Plateau last year. Chevron operates a 50-50 combine with Shell Development Australia (OGJ Online, July 11, 2005, Newsletter).