Original article by Matt Chambers
The Australian – Page: 19 & 22 : 13-Oct-17
Chevron has cited the low price of crude oil for its decision to shelve plans to undertake a four-well drilling program in the Great Australian Bight in 2018. Chevron says it was a commercial decision that was not influenced by factors such as environmental concerns or government policy. Chevron intends to focus on exploration off the coast of Western Australia, where it can utilise its existing infrastructure. BP abandoned plans to drill two wells in the Bight in October 2016, citing similar reasons for its decision.
CHEVRON CORPORATION, CHEVRON AUSTRALIA PTY LTD, BP PLC, BP AUSTRALIA LIMITED, BEACH ENERGY LIMITED – ASX BPT, STATOIL AS