Chevron Acquires Exploration Interests in Acreage Off South Australia Coast

Chevron Corporation

today announced its Australian subsidiary has acquired exploration interests in two offshore blocks located in the Bight Basin, a deepwater frontier basin. Blocks S12-2 and S12-3, which span more than 8 million acres (32,375 square kilometers), are located approximately 275 miles (443 kilometers) west of Port Lincoln off the South Australia coast. Chevron Australia is the operator with a 100 percent interest. Melody Meyer, president of Chevron Asia Pacific Exploration and Production Company, said, “The acquisition of blocks S12-2 and S12-3 demonstrates Chevron's continued focus on pursuing high-impact exploration opportunities to expand its resource base and reinforces the importance of Australia to Chevron's