SIGNIFICANT OFFSHORE GAS FIND IN WESTERN AUSTRALIA

MELBOURNE, Dec 15 (Bernama) -- A new gas discovery offshore from Western
Australia could extend the life of the giant A$43 billion Gorgon project, say
its operators.

Chevron said Tuesday results from the Satyr-1 exploration well at the
WA-374-P permit area were encouraging, though it was too early to say how much
gas is located at the site.

"We are delighted with the results of what is our largest ever drilling
campaign offshore north-western Australia," Chevron Australia's managing
director Roy Krzywosinski said in a statement Tuesday.

"The continued success of our broader drilling programme will provide
additional natural gas to underpin the Gorgon and Wheatstone projects," he said.

Chevron Australia owns a 50 per cent interest in the well, while Shell and
Mobil Australia hold 25 per cent each.

Chevron said it was too early to speculate on the resource potential, but
added that it would add to the Gorgon's growth.

"It is obviously a significant discovery,'' the company said.

-- BERNAMA