posted on 12/14/2009
Chevron Australia reported finding natural gas in the Carnarvon Basin offshore Australia with its Satyr-1 exploration well. The well, located 100 miles offshore in the Greater Gorgon Area, found 130m of net gas pay. The well was drilled to 4560m TD in 1070m of water.
Scarcely two months ago, the supermajor reported a find with its Achilles-1 exploration well off northwest Australia. That well, also in the Carnarvon Basin, encountered about 100m of net gas pay after being drilled to 4500m TD.
'Our offshore drilling campaign in northwestern Australia continues to deliver results and is expected to provide additional natural gas supplies to underpin the Chevron-operated Gorgon natural gas project,' said George Kirkland, executive vice president, Global Upstream and Gas, Chevron Corporation.
The initial Gorgon Project development will include a three-train, 15 million-metric-tons-per-year liquefied natural gas facility and a domestic gas plant.
Chevron operates the WA-374-P permit area containing both the Achilles-1 and Satyr-1 wells with 50% interest on behalf of ExxonMobil and Shell, which each hold 25%.
On 10 December, Chevron announced its 2010 capital and exploratory spending program will drop from its projected 2009 expenditures by 5%. About 80% of the $21.6 billion spending program for 2010 is earmarked for upstream E&P projects.
'Much of our 2010 spending continues to be on large, multiyear projects consistent with our upstream growth strategies and on improving operating efficiency and reliability,' said Chairman and CEO Dave O'Reilly.
Funding is to be allocated in Western Australia to develop the Gorgon and Wheatstone natural gas resources; in the US Gulf of Mexico for deepwater exploration and development, including Jack-St Malo, Perdido, Tahiti, Tonga and Big Foot; Brazil to develop the Frade and Papa Terra fields; Nigeria to develop the Usan and Agbami deepwater fields; Angola to construct LNG facilities and develop Block 14 deepwater assets; Thailand to develop the offshore Platong Gas II project; China to develop the Chuandongbei natural gas project; and Canada to expand the Athabasca Oil Sands project.
Source: http://www.oilonline.com/News/NewsArticles/articleType/ArticleView/articleId/24489/New-Greater-Gorgon-find.aspx
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