Chevron, Woodside secure GHG assessment Permit in Australia

Chevron Corporation, through its subsidiary Chevron Australia New Ventures, and Woodside Energy have been awarded the greenhouse gas assessment permit G-18-AP, located in the Northern Carnarvon basin offshore Western Australia, the company announced on August 22.

G-18-AP is situated offshore from Onslow, Western Australia, near the Chevron-operated Wheatstone natural gas facility. The permit covers an area of approximately 8,467 km² with water depths ranging from 50 to 1,100 meters.

Under the joint venture arrangements, Chevron will hold a 70% participating interest, while Woodside will hold a 30% interest in the permit. Chevron has agreed to farm down 5% 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.

The G-18-AP permit area will be evaluated as part of a hub for storing third-party emissions, including those from Chevron’s operated LNG assets.

“This permit has the potential to support our operations as we aim to deliver lower-carbon energy to a growing world,” said David Fallon, Chevron Australia’s general manager of Energy Transition.

“Woodside believes carbon capture and storage will play a crucial role in the global energy transition. This permit aligns with our strategy to develop lower-carbon solutions and could contribute to achieving greenhouse gas emission reduction targets,” added Menno Weustink, Woodside’s vice president of New Energy, APAC.