Chevron Australia Pty Ltd has announced that is has made the decision to market its non-operated 1/6th interest in the North West Shelf (NWS) project, located in the North Carnarvon Basin. The decision was made after Chevron received unsolicited offers from a range of buyers. The deal has been reported to be worth around USD 3.5 billion.  With the NWS Project moving focus from an independent LNG project to a competitive third-party tolling facility, Chevron believes this represents a good time to exit the joint venture by considering proposals by potential buyers.  Since the Woodside operated NWS Project commenced in 1989, Chevron has maintained its position, which is currently holds at 16.67%, alongside equal share with partners Woodside Energy Ltd, BHP, BP, Japan Australia LNG (MIMI) and Shell. Over the coming years, it's planned that the Pluto LNG Plant will be tied into the NWS Project's Karratha Gas Plant â creating the "Burrup Hub" as part of an expansion concept. The Browse LNG Project could also see LNG tolled through the facilities via a 900 km long pipeline, in which, Chevron does not hold position.    Overall, the NWS Project comprises 19 licences (JV 15.78% share, with 5.32% held by CNOOC) and 20 gas and 7 oil discoveries. Initially the project produced from foundation fields: North Rankin, Goodwyn, Angel and Perseus. Two completed expansion phases extended production through the tie in of second-tier fields. The third expansion phases reach a financial investment decision in January 2020.  Chevron has reported that it intends to maintain its position in its Gorgon and Wheatstone Projects.
Australia (Exmouth Plateau (North Carnarvon B.)) Pluto, Chevron Australia Pty Ltd has announced that is has made the decision to market its non-operated 1/6th interest in the North West Shelf (NWS) project, located in the North Carnarvon Basin.