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© Chevron 2006 The World’s Most Significant Gas Fields: Gorgon Project Neil Theobald President - Marketing Gorgon Project Chevron Australia June, 2006

The World’s Most Significant Gas Fields: Gorgon Projectmembers.igu.org/html/wgc2006pres/data/wgcppt/pdf/WOC... · 2012. 7. 11. · Gorgon Project 4.2 mtpa (~85% of Chevron’s 5

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  • © Chevron 2006

    The World’s Most Significant Gas Fields:

    Gorgon Project

    Neil TheobaldPresident - MarketingGorgon ProjectChevron Australia

    June, 2006

  • © Chevron 2006

    1.0 Gorgon Project Overview

    Selection Criteria:Overview of Project including Size and Significance

  • 3© Chevron 2006

    *Source: WoodMackenzie database

    Greater Gorgon

    NWS

    Others

    Browse

    Chevron WoodsideShell ExxonMobil BHP BP

    5

    10

    15

    20

    25

    30

    35

    40

    Estimated Gas Resources (Tcf)

    Greater Gorgon Area holds ~25% of all known Australian gas

    Greater Gorgon makes CVX the largest holder of natural gas in Australia

    Chevron is the Largest Gas Resource Holder in Australia

  • 4© Chevron 2006

    Resource Base

  • 5© Chevron 2006

    •Reliable LNG supply

    •Robust facility design

    •Wealth of international experience

    •Safe, efficient and environmentally responsible development

    •3/4 of the world’s LNG production involves at least one of the GJV or affiliates

    Gorgon Joint Venture Participants

    Operator

  • 6© Chevron 2006

    Gorgon Project Development Plan

    0 50N

    kilometres

    Gorgon Field

    Subsea tie-backto Barrow Island

    Domestic Gas Connectionto the mainland

    North WestShelf

    AUSTRALIA

    Existing Domestic Pipeline

    LNGExports

    Jansz Field

    Karratha

    Onslow

    2 x 5mtpa LNG trains & CO2 Injection on

    Barrow Island

  • 7© Chevron 2006

    LNG Plant Facilities

    • 2 x 5 mtpa LNG trains APCI C3MR technology

    • Stabilisation, acid gas removal, CO2compression, power generation, utilities, LNG storage, materials offload condensate storage and export facilities

  • © Chevron 2006

    2.0 Market Impact

    Selection Criteria:Production from the field has led to the

    development of a large downstream gas market or has enabled gas to become the leading fuel in a particular region. The effect of the field on the local economy or the market

    structure can also be considered.

  • 9© Chevron 2006

    Gorgon Project in Australia: Local and National Impact

    Source: Gorgon Project Environmental, Social & Economic Impact Statement

    Gorgon Project Contribution to National & Western Australian GDP(Net Present Value in 2002)

  • 10© Chevron 2006

    Gorgon Project in Australia: Local and National Impact

    Source: Gorgon Project Environmental, Social & Economic Impact Statement

    Gorgon Project Contribution to National & West Australian Employment

  • 11© Chevron 2006

    Innovative Approach to Marketing

    � Equity Marketing

    � Owner Freedom to Market Independently

    � Ground breaking for Project of this size

  • 12© Chevron 2006

    Chevron – Marketing Gas from the Gorgon Project

    4.2 mtpa (~85% of Chevron’s 5 mtpa initial capacity)

    committed to Japanese buyers

    � 1.5 mtpa to Osaka Gas

    � 1.5 mtpa to Chubu Electric

    � 1.2 mtpa to Tokyo Gas

    � Remaining volumes will be available to supply markets

    such as North America where Chevron is pursuing a

    portfolio of options for importing natural gas

    Chevron expects that Gorgon capacity will eventually be

    expanded to up to 20 mtpa

  • © Chevron 2006

    3.0 Technological Advances and Challenges

    Selection Criteria:Difficulties faced in developing the reservoir

    required the application of new techniques, equipment or processes that have subsequently been applied in other upstream projects or are expected to be further

    developed for future gas production.

  • 14© Chevron 2006

    All Sub-sea Gas Procurement System

  • 15© Chevron 2006

    Geo-sequestration of CO2 emissions

  • © Chevron 2006

    4.0 Sustainable Development

    Selection Criteria:This covers a wide range of issues including

    the exploitation of natural gas found in ecologically sensitive or environmentally challenging locations, through to issues arising from the production and treatment of

    acid gas to satisfy economic and environmental imperatives

  • 17© Chevron 2006

    Working on an A Class Nature Reserve

  • © Chevron 2006

    5.0 Future Potential

    Selection Criteria:Large remaining reserves or production levels

    that could be sustained for several decades to come are indicators of high potential, as are major possibilities for developing new production, enhancing existing production or

    increasing recoverable reserves by a very substantial amount.

  • 19© Chevron 2006

    Extensive Resource Base

    ! ! ! ! ! ! ! ! ! ! ! ! ! !

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    -1

    4

    00m

    -1

    300

    m

    -10

    00m

    -200m

    JANSZ

    EURYTION

    URANIA

    GERYON

    IAGO

    SPAR

    GORGON

    WEST TRYAL ROCKS

    MAENAD ORTHRUS

    DIONYSUS

    CHRYSAOR

    P E R T H

    AUSTRALIAAUSTRALIA

    NB. No proved reserves have been recognized by any company from the project at this date, and the volume of gas recoverable may differ from these

    estimates.

    Est. Total Resource Base of

    40 40 TcfTcf

  • 20© Chevron 2006

    Australia: A World Leading LNG Supplier