Chevron's exploration acquisition adds to opportunities in Australia

10/23/2013

Chevron's exploration acquisition adds to opportunities in Australia

SAN RAMON, Calif. -- Chevron Corporation's Australian subsidiary has acquired exploration interests in two offshore blocks located in the Bight Basin, a deepwater frontier basin.

Blocks S12-2 and S12-3, which span more than 8 million acres (32,375 sq km), are located approximately 275 mi (443 km) west of Port Lincoln off the South Australia coast. Chevron Australia is the operator with a 100 percent interest.

Melody Meyer, president of Chevron Asia Pacific Exploration and Production Company, said, "The acquisition of blocks S12-2 and S12-3 demonstrates Chevron's continued focus on pursuing high-impact exploration opportunities to expand its resource base and reinforces the importance of Australia to Chevron's global growth strategy."

Chevron Australia managing director Roy Krzywosinski added, "We are extremely pleased to be awarded the S12-2 and S12-3 offshore blocks located in the Bight Basin. The Bight Basin is similar in size to the Gulf of Mexico, and these two blocks contain significant exploration potential."

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