The Gorgon Project is being progressed by an unincorporated joint venture
consisting of subsidiaries of ExxonMobil, Chevron and Shell. The Project seeks
to develop the greater Gorgon gas fields – a world class gas resource - off
the Western Australian coast.
The development concept
consists of subsea infrastructure for the production and transport of gas from
the greater Gorgon gas fields to a gas processing facility located on Barrow
Island. The development concept for the Jansz field includes a sub-sea tieback
which will be one of the longest in the world and which will access gas that
lies in almost 1400 metres of water.
LNG will be produced at
the gas processing facility and shipped to customers internationally.
ExxonMobil is currently marketing its equity share of Gorgon LNG and is
aggressively pursuing a number of market opportunities in key customer
countries in Asia.
The project not only has the potential to
deliver a reliable and large volume of LNG supply internationally but will
deliver a number of benefits to Australia through the generation of more than
$17 billion in royalties, an increase in exports of $2 billion per year and
the creation of over 6000 jobs.
Under the Framework Agreement
signed in April 2005 between ExxonMobil and its joint venture partners, the
project will encompass 11 gas fields in the greater Gorgon area, including
Gorgon and Jansz, containing an estimated total recoverable resource in excess
of 40 trillion cubic feet (TCF) of natural gas.
The Framework
Agreement established a new ownership structure for the project where: Chevron
has 50 percent, ExxonMobil 25 percent and Shell 25 percent. ExxonMobil will
continue as the upstream operator of the Jansz field and Chevron as Gorgon
Project operator.
|  | 
|