The partnership arrangements reflect the Gorgon equity structure – Chevron Australia 50% and operator, Shell Australia 25% and ExxonMobil subsidiary Mobil Australia Resources Company Pty Limited 25%.

The three-year work program for the permit area includes geotechnical studies, about 2,350 km of 2D seismic reprocessing, 1800 sq.km of 3D seismic survey acquisition and drilling two exploration wells.

With seismic work to begin this year, Chevron said potential existed for a further three-year work program.

Chevron Australia managing director Jay Johnson said the acreage significantly expanded the company’s interests in offshore Western Australia.

“It also reinforces the prominence of Australia in Chevron’s overall exploration and development plans,” Johnson said.

“The work to support this bid reflects the advancement in our technical understanding of the complex geology of this basin.”