Introducing Link
Link Oil and Gas Professionals - News
Chevron has been awarded production licences for the $42 billion Gorgon liquefied natural gas project.
The Gorgon LNG joint venture is waiting for the approval on its development plan from the Western Australian government before a final investment decision around mid-September.
The joint venture was offered five production licences for five gas fields including Io-Jansz and Gorgon. The government also renewed seven other retention licences over other gas fields in the area, but requested for a commercial review of the West Tryal Rocks gas field in two years’ time. However, a condition was set. In particular, it will require a mid-term review of the West Tryal Rocks gas field in two years time.
The Greater Gorgon area has about 40 trillion cubic feet of gas, enough to underpin the project for more than 30 years. The Australian government has estimated the project cost to be around A$50 billion ($42 billion).
