New natural gas find in Australia: Chevron | business | Hindustan Times
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New natural gas find in Australia: Chevron

business Updated: Oct 19, 2009 12:26 IST

Energy group Chevron on Monday announced a new natural gas discovery off Western Australia that will help support the massive Gorgon liquefied natural gas (LNG) project.

Chevron, Shell and ExxonMobil last month agreed to develop the Gorgon field, spending some 43 billion Australian
dollars (39.25 billion US) in the initial construction phase of the country's largest-ever resources development.

The energy giant said gas was found in about 100 metres of the 4,500 metres drilled in the Achilles-1 exploration well
which lies about 160 kilometres offshore.

"The success of our drilling programme will provide additional natural gas to underpin the Gorgon and Wheatstone
projects," Chevron Australia managing director Roy Krzywosinski said in a statement.

The Gorgon project, expected to begin production in 2014, is designed to be an important source of energy for Asia's
burgeoning economies.

It is already supported by supply contracts with China, Japan, India and South Korea worth a combined 145 billion
Australian dollars.

Chevron owns a 50 per cent stake in Gorgon and will operate the plant, with ExxonMobil and Shell each holding 25
per cent.