Chevron acquires 8 million acres offshore South Australia
Chevron's (NYSE: CVX) Australian subsidiary, Chevron Australia, has
acquired exploration interests in two massive blocks in Australia's
deepwater Bight Basin, located 443 kilometres west of Port Lincoln.
The two blocks of land, titled S12-2 and S12-3, span over eight million acres and are "similar in size to the Gulf of Mexico", Chevron Australia's Managing Director, Roy Krzywosinski said.
Under the deal, Chevron Australia is the operator with a 100 percent interest in the blocks which span more than 32,375 square kilometres and are located west of Port Lincoln off the South Australia coast.
Chevron Australia is the operator with a 100 percent interest.
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