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gas find nearby

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    Chevron hails significant gas find near Gorgon
    From: AAP December 15, 2009 11:35AM

    A new gas discovery offshore from Western Australia could extend the life of the giant Gorgon project, its operators say.

    Chevron revealed today that results from the Satyr-1 exploration well at the WA-374-P permit area were encouraging, though it was too early to say how much gas is located at the site.

    "We are delighted with the results of what is our largest ever drilling campaign offshore northwestern Australia,'' Chevron Australia managing director Roy Krzywosinski said in a statement today.

    "The continued success of our broader drilling program will provide additional natural gas to underpin the Gorgon and Wheatstone Projects.''

    Chevron Australia owns a 50 per cent interest in the well, while Shell and Mobil Australia each hold 25 per cent.

    A Chevron spokeswoman said it was too early to speculate on the resource potential, but it would add to the Gorgon's growth.

    "It is obviously a significant discovery,'' she said.

    The company said the exploration well spudded on October 5 in 1,070m of water and was drilled to a total depth of 4,560m.

    "Results indicate approximately 130m of net gas pay,'' Chevron Australia said.

    The $43bn Gorgon liquefied natural gas project, at Barrow Island about 130km off Western Australia's north west coast, is Australia's largest resources project.

    It has an estimated 40 trillion cubic feet of gas at its various fields and will be operating for at least 40 years.

    The spokeswoman said further finds, such as the Satyr-1 discovery, were expected to allow the field to operate for longer.

    The Satyr-1 well is located northeast of Barrow Island, east of the Gorgon field.

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