Chevron, Woodside buy Australia blocks

Australia

PERTH, October 5, 2017 – Chevron and Woodside Petroleum have jointly purchased exploration interests in blocks WA-528-P, WA-529-P and WA-530-P offshore Western Australia, the super-major announced on Thursday.

While each company will own a 50% stake in the blocks, Chevron will be the operator of the licences. The value of the deal was not disclosed.

“Offshore Western Australia is a global focus area for Chevron and these new exploration blocks add to our already significant gas position as the largest resource holder and liquefaction owner,” Chevron Australia managing director Nigel Hearne said in a statement. “Partnership is going to be crucial for ongoing investment in Western Australia’s resource sector and to maximise the value of the available resources and infrastructure for the benefits of local jobs, companies and energy security.”