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Chevron gives drills green light for $50b LNG exploration

  •  26 March 2009
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Chevron gives drills green light for $50b LNG exploration

CHEVRON has commenced drilling for gas off Australia's northwest coast.

The second-biggest US oil company says this is its biggest ever exploration campaign.

Roy Krzywosinski, managing director of Chevron's Australian unit says the drilling will include as many as 10 exploration and appraisal wells in 2009.The drilling is aimed to find more gas to supply Chevron’s planned Gorgon and Wheatstone LNG projects.

The Gorgon Project plans to develop the Greater Gorgon gas fields, located between 130km and 200km off the north-west coast of Western Australia. The Greater Gorgon gas fields contain resources of about 40 trillion cubic feet of gas, Australia's largest-known gas resource.

Wheatstone LNG is a planned liquefied natural gas plant at Wheatstone, on the northwest coast of Australia. The LNG plant will have an annual capacity of 15 million tonnes of LNG.

Chevron says development of these substantial assets will secure Australia's position as a leading gas producer and generate a new source of wealth for Western Australia and Australia.

Australia's northwest ranks among Chevron's four highest-priority exploration regions worldwide, alongside the Gulf of Mexico, West Africa and the Gulf of Thailand.

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