Chevron Corporation, through its subsidiary Chevron Australia New Ventures Pty Ltd, has been awarded a greenhouse gas assessment permit offshore Western Australia. This permit supports Chevron’s strategy to safely deliver lower-carbon energy to meet growing global demand.
The G-18-AP permit, located offshore from Onslow, Western Australia, covers an area of approximately 8,467 km² with water depths ranging from 50 to 1,100 metres. Chevron plans to evaluate the area as a potential hub for storing third-party emissions, including those from its operated LNG assets.
The permit involves a joint venture, with Chevron holding a 70 percent participating interest as the operator, while Woodside Energy Ltd. holds the remaining 30 percent. Additionally, Chevron has agreed to farm down five percent of its equity in the permit to Korea’s GS Caltex, subject to regulatory approvals.
Chris Powers, vice president of CCUS & Emerging for Chevron New Energies, emphasised the significance of the permit, stating, “Chevron, along with our joint venture participants, has a unique set of assets, capabilities, and customer relationships to support the further assessment, development, and deployment of carbon capture and storage in Australia.” He highlighted that this new award could expand Chevron’s portfolio of CCS assets in the region.
Mark Hatfield, managing director of Chevron Australia, noted that these opportunities could help lower the carbon intensity of Chevron’s operations and provide avenues for customers to reduce or offset their emissions.
This new block award adds to Chevron’s portfolio, which includes non-operated interests in G-9-AP, G-10-AP, and G-11-AP, as well as the operation of the Gorgon CCS project, which has already captured and stored 10 million tonnes of CO2-equivalent.
The International Energy Agency has identified carbon capture, utilisation, and storage as essential for achieving global net-zero emissions.
For more information visit www.chevron.com
