Chevron, partners awarded acreage off Australia

Chevron Australia Pty. Ltd., Perth, and partners have been awarded exploration rights to the W06-12 permit area in the Carnarvon basin off northwestern Australia.

March 26, 2007

By OGJ editors
HOUSTON, Mar. 26 -- Chevron Australia Pty. Ltd., Perth, and partners have been awarded exploration rights to the W06-12 permit area in the Carnarvon basin off northwestern Australia.

The acreage, in the Greater Gorgon area of the basin, covers 1,150 sq miles and lies about 60 miles offshore.

Chevron will serve as operator, with a 50% interest in the permit, while partners Shell Development Australia and Mobil Australia Resources Co. Pty. Ltd. each will hold a 25% interest.

The 3-year work program for the permit includes geotechnical studies, the shooting of 110 miles of 2D seismic, and the drilling of an exploration well. Seismic work will begin this year.

Chevron said there also is potential for an additional 3-year work program.