Shell unit awarded 2 exploration permits off north west Australian coast |
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Published
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Mon, 05 Mar 2007 02:58
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SYDNEY (XFN-ASIA) - Royal Dutch Shell group unit Shell Development Australia said it has been awarded two exploration permit areas off Australia's northwest coast.It said the first block, AC/P41, builds on its operating activities in the Eastern Browse Basin.Shell will be operator and holds 50 pct, with Australian listed Nexus Energy Ltd owning the other 50 pct.AC/P41 is 200 kilometers off the coast in the northern part of the Browse Basin and covers about 1,900 square kilometers. The work program includes geological studies of the area, drilling of exploration wells and acquisition of 3-D seismic data.The second permit, W06-12 in the Greater Gorgon area, was secured in partnership with operator Chevron Corp which has 50 pct.Shell and and ExxonMobil Corp each hold 25 pct.The W06-12 permit area in the Carnarvon Basin covers about 3,100 sq km and lies about 100 km off the coast.Shell Development Australia chief operating Officer Chris Gunner said the AC/P41 block strengthens his group's position around the Crux asset and its partnership with Nexus.'We have a joint goal of commercializing what looks to be an attractive gas resource,' Gunner said in a statement.He said Shell regards Australia as an important part of its regional and global growth aspirations for gas and sees it as helping sustain a leading liquefied natural gas position around the world.As well as a 34 pct shareholding in in Australia's largest oil and gas group Woodside Petroleum Ltd, in Australia Shell has a 16 pct stake in the North West Shelf LNG joint venture, rated as Australia's largest resources project.It also had a 25 pct stake in the Gorgon gas field and 26 pct of the Greater Sunrise field.Both these gas fields are yet to be developed.bruce.hextall@xfn.com
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RPT - Chevron jv awarded exploration rights off northwest Australia 