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Chevron acquires offshore acreage

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Chevron Acquires New Acreage Offshore Australia

Exploration acquisition adds to opportunities in Australia


Oct. 23, 2013 Chevron Corporation (NYSE:CVX) 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

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