ChevronTexaco confirms Gorgon gas project milestone
Posted: 8 September 2003
Gorgon partners welcome Barrow Island decision
ChevronTexaco Corp. confirmed the Joint Venture developing the
giant Gorgon gas project has received in-principle approval from
the Western Australia State Government for the restricted use of
Barrow Island for a foundation development.
The Gorgon development proposal centers on the establishment of
an Liquefied Natural Gas (LNG) facility on Barrow Island, which
lies directly between the Gorgon gas fields and the Australian mainland.
The island is both an internationally recognized nature reserve
and the location of Australia's largest onshore operating oilfield.
George Kirkland, President of ChevronTexaco Overseas Petroleum,
said: "Today's decision moves our company another step forward
in building a global, integrated gas business that targets attractive
markets and commercializes our large gas resource base."
"I believe this decision by the Western Australian government
demonstrates confidence in our industry's ability to plan and implement
projects in harmony with environmental considerations. Protection
of this nature reserve will be taken into account at each step in
the development process."
The Gorgon Joint Venture partners will now focus on the next phase
of the development. This includes preparing detailed environmental
plans that will allow the project to manage the proposed development
on Barrow Island while continuing to care for, and fund, the protection
of the island's environment. Additional planning includes pursuing
marketing opportunities and progressing engineering and design studies.
The Gorgon Joint Venture's proposal for the development of the
Gorgon gas field on Barrow Island, which will deliver significant
economic benefits to the state of Western Australia, has been subject
to a strategic environmental, social and economic review (ESE Review)
undertaken over the past 12 months.
The ESE process provided a comprehensive, open and transparent
review of the Venture's development proposal for all stakeholders.
The Gorgon Joint Venture agrees to the quarantine recommendations
identified by the Environmental Protection Authority (EPA). These
recommendations are consistent with the Venture's view that effective
quarantine is the key to protecting the conservation values of the
Island.
The Gorgon Joint Venture Participants are ChevronTexaco (4/7th
interest), Shell (2/7th interest) and ExxonMobil (1/7th interest).
Cautionary Statement Relevant to Forward-Looking Information for
the Purpose of "Safe Harbor" Provisions of the Private
Securities Litigation Reform Act of 1995.
For more information see http://www.chevrontexaco.com.
Posted by Richard Price,
Editor Pipeline Magazine
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