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Chevron declares gas find in Australia

Sept. 20, 2012 at 6:59 AM   |   Comments

SAN RAMON, Calif., Sept. 20 (UPI) -- A natural gas discovery off the coast of Australia could support Chevron's ambitions to become a global LNG leader, a company executive said.

Chevron Corp. announced it discovered about 128 feet of net gas pay at its Satyr-2 well in the Carnarvon Basin off the coast of Western Australia.

Melody Meyer, president of Chevron's exploration company working in the Asia Pacific region, said in a statement that the discovery showcases Australia's position in the company's portfolio.

"The continued exploration success in the Carnarvon Basin could help underpin expansion opportunities at our LNG projects in Australia and support our drive to become a leading supplier of liquefied natural gas to world markets and domestic gas to Western Australia," she said.

Chevron in June signed a liquefied natural gas deal with Tokyo Electric Power Co. Tepco is to get 400,000 tons of liquefied natural gas a year from the company's Wheatstone project in Australia, bringing its total uptake to 4.2 tons per year under the terms of a 20-year agreement.

The company said the discovery at Satyr-2 marks its 15th such discovery in Australia since 2009.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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