Chevron snaps up three offshore interests off Western Australian coast

Chevron's Wheatstone operation. Image credit: Chevron

Chevron Australia has purchased three exploration interests in the Carnarvon Basin offshore Western Australia, comprising 50 trillion cubic feet of gas resources over an area of 23,170 square kilometres.

Chevron is investing a 50 per cent interest in the newly acquired acreage — to be shared with Perth-based partner Woodside Energy — and represents a considerable expansion of Chevron’s position as an oil and gas player in WA’s hydrocarbon basin.

The company already operate the area’s sizeable Wheatstone and Gorgon offshore projects, as well as Australia’s largest onshore project on Barrow Island.

Chevron’s Australian marketing director Nigel Hearne said the partnership would strengthen LNG and oil infrastructure in the region.

“Offshore Western Australia is a global focus area for Chevron and these new exploration blocks add to our already significant gas position as the largest resource holder and liquefaction owner,” he explains.

“Chevron Australia has discovered around 50 trillion cubic feet of gas resources, and through collaboration we hope to commercialise this gas through the timely and efficient use of existing equity or third-party infrastructure.

“This supports our position as a leading operator and long-term supplier of clean and reliable natural gas to customers in Western Australia and the region.”