Chevron Corporation, through its subsidiary Chevron Australia New Ventures, has been awarded a greenhouse gas (GHG) assessment permit offshore Western Australia. The permit award provides further opportunity for Chevron to deliver on its strategy of safely delivering lower carbon energy to a growing world.
The G-18-AP permit is offshore from Onslow, Western Australia and covers an area of approximately 8,467 square kilometres, with water depths of 50-1100 metres. The permit area will be evaluated as part of a hub for storing third party emissions, including those from Chevron’s operated LNG assets.
The permit involves a joint venture with Chevron as operator, and Woodside Energy Ltd. Chevron will hold a 70% participating interest in the permit, and Woodside will hold a 30% participating interest. Chevron has agreed to farm down five percent of its equity in the permit to GS Caltex (GSC) of Korea. GSC’s entry into the permit is conditional on regulatory approvals and other matters.
Chris Powers, vice president of CCUS & Emerging for Chevron New Energies says: ‘Chevron, along with our joint venture participants, have a unique set of assets, capabilities and customer relationships to support the further assessment, development and deployment of carbon capture and storage (CCS) in Australia.’
