SAN RAMON, Calif .– (COMMERCIAL THREAD) – Chevron Corporation (NYSE: CVX) announced today that its wholly owned subsidiary Chevron Australia Pty Ltd. (Chevron Australia) as operator and the participants in the Gorgon joint venture will squeeze approximately $ 4 billion (AU $ 6 billion) from Jansz-Io (J-IC).
Nigel Hearne, president of Chevron Eurasia Pacific Exploration and Production, said J-IC represents Chevron’s largest capital investment in Australia since the Gorgon Stage 2 project was sanctioned in 2018.
“Using state-of-the-art subsea compression technology, J-IC is able to maintain gas supply from the Jansz-Io field to the three existing LNG trains and the domestic gas plant on the island of Barrow, ”Hearne said.
“This will maintain an important source of clean-burning natural gas for customers, which will enable energy transitions in countries in the Asia-Pacific region. ”
A modification of the existing development of Gorgon, J-IC will involve the construction and installation of a normally unattended 27,000 tonne floating field control station (FCS), approximately 6500 tonnes of compression infrastructure under -marine and a 135 km submarine power cable connected to Barrow Island.
Construction and installation activities are expected to last approximately five years.
J-IC is following the Gorgon Stage 2 project, whose installation phase is almost complete, to supply gas to the Gorgon plant from four new Jansz-Io wells and seven new Gorgon wells.
The Chevron-operated Gorgon project is a joint venture between the Australian subsidiaries of Chevron (47.333%), ExxonMobil (25%), Shell (25%), Osaka Gas (1.25%), Tokyo Gas (1%) and JERA ( 0.417 percent).
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