Exploration acquisition adds to opportunities in Australia
SAN RAMON, Calif.--(BUSINESS WIRE)--Oct. 23, 2013--
Chevron Corporation (NYSE:CVX) today announced its 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
square kilometers), are located approximately 275 miles (443 kilometers)
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.”
Chevron is one of the world’s leading integrated energy companies, with
subsidiaries that conduct business worldwide. The company is involved in
virtually every facet of the energy industry. Chevron explores for,
produces and transports crude oil and natural gas; refines, markets and
distributes transportation fuels and lubricants; manufactures and sells
petrochemical products; generates power and produces geothermal energy;
provides energy efficiency solutions; and develops the energy resources
of the future, including biofuels. Chevron is based in San Ramon, Calif.
More information about Chevron is available at www.chevron.com.
Cautionary Statement Relevant to Forward-Looking Information for the
Purpose of “Safe Harbor” Provisions of the Private Securities Litigation
Reform Act of 1995.
Some of the items discussed in this press release are forward-looking
statements about Chevron’s activities in Australia. Words such as
“anticipates,” “expects,” “intends,” “plans,” “targets,” “forecasts,”
“projects,” “believes,” “seeks,” “schedules,” “estimates,” “budgets,”
“outlook” and similar expressions are intended to identify such
forward-looking statements. The statements are based upon management’s
current expectations, estimates and projections; are not guarantees of
future performance; and are subject to certain risks, uncertainties and
other factors, many of which are beyond the company’s control and are
difficult to predict. Among the important factors that could cause
actual results to differ materially from those in the forward-looking
statements are changes in prices of, demand for and supply of crude oil
and natural gas; actions of competitors; the inability or failure of the
company’s joint-venture partners to fund their share of operations and
development activities; the potential failure to achieve expected net
production from existing and future crude oil and natural gas
development projects; potential delays in the development, construction
or start-up of planned projects; the potential disruption or
interruption of the company’s net production or manufacturing facilities
or delivery/transportation networks due to war, accidents, political
events, civil unrest, or severe weather; government-mandated sales,
divestitures, recapitalizations, industry-specific taxes and changes in
fiscal terms or restrictions on scope of company operations; foreign
currency movements compared with the U.S. dollar; and general economic
and political conditions. The reader should not place undue reliance on
these forward-looking statements, which speak only as of the date of
this press release. Unless legally required, Chevron undertakes no
obligation to update publicly any forward-looking statements, whether as
a result of new information, future events or otherwise.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20131022007002/en/
Source: Chevron Corporation
Chevron Corporation
Alex Yelland, +65 9720 2560 (Singapore)
