Chevron hits gas off Oz

Champagne bottle popping cork, close-up

Champagne bottle popping cork, close-up

Microzoa

Eoin O'Cinneide

 23 July 2012 13:25 GMT

Chevron is toasting a natural gas discovery at an exploration well in a key basin off the west coast of Australia.

The US supermajor said it has made the discovery at the Pontus-1 well on the WA-37-L block in the Greater Gorgon Area of the Carnarvon basin.

Chevron has struck 30 metres of net gas pay at the well which was drilled to 5054 metres in 210 metres of water.

The oil giant said the discovery will help contribute to development of the larger Gorgon gas project on the field.

The latest well is situated about 65 kilometres north-west of Barrow Island off Western Australia.

Chevron is operator of the block with a 47.3% share while…

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