Announcement Is Significant Milestone Toward Project Success
SAN RAMON, Calif., Dec. 12 /PRNewswire-FirstCall/ -- Chevron
Corporation (NYSE: CVX) today confirmed that Western Australia's
environment minister has cleared the way for environmental approval to be
granted to the Gorgon project subject to conditions.
The minister has upheld the Gorgon proponents' appeal of the Western
Australia Environmental Protection Authority's June 2006 advisory bulletin
that recommended against the Gorgon project's Environment Impact Statement
and Environmental Review and Management Plan.
"Chevron welcomes today's announcement which reaffirms the Gorgon
participants' belief that the project can proceed in an environmentally
responsible way on Barrow Island," said Jay Johnson, managing director,
Chevron Australia. "The venture participants remain committed to working
with state and federal governments to ensure this nationally important
project proceeds in an environmentally responsible way."
The Gorgon project proposal involves a two-train liquefied natural gas
(LNG) plant and a domestic gas plant on Barrow Island, located off
Australia's northwest coast, home to Australia's largest operating onshore
oil field for more than 40 years.
Gorgon's environmental assessment was the result of more than three
years' preparation and includes the research and contributions of more than
100 independent experts and extensive community consultation. Through this
process, the project has refined a number of development designs, allowing
equal or better environmental outcomes.
The Western Australia's minister for the environment has also provided
a framework for environmental conditions. These conditions as well as
environmental approval from the federal minister will need to be finalized
before the project can proceed.
The Gorgon project is operated by the Australian subsidiary of Chevron
in joint venture with Australian subsidiaries of ExxonMobil and Shell.
Chevron Corporation is one of the world's leading energy companies.
With more than 55,000 employees, Chevron subsidiaries conduct business in
approximately 180 countries around the world, producing and transporting
crude oil and natural gas, and refining, marketing and distributing fuels
and other energy products. Chevron is based in San Ramon, Calif. More
information on Chevron is available at http://www.chevron.com .
Cautionary Statement Relevant to Forward-Looking Information for the
Purpose of "Safe Harbor" Provisions of the Private Securities Litigation
Reform Act of 1995.
Some of the items discussed in this press release are forward-looking
statements about Chevron's activities in Australia. Words such as
"anticipates," "expects," "intends," "plans," "targets," "projects,"
"believes," "seeks," "estimates" and similar expressions are intended to
identify such forward-looking statements. The statements are based upon
management's current expectations, estimates and projections; are not
guarantees of future performance; and are subject to certain risks,
uncertainties and other factors, some of which are beyond the company's
control and are difficult to predict. Among the factors that could cause
actual results to differ materially are changes in demand for and supply of
crude oil and natural gas; actions of competitors; the potential disruption
or interruption of project activities due to war, accidents, political
events, civil unrest or severe weather; and general economic and political
conditions. You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. Unless
legally required, Chevron undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information, future
events or otherwise.
SOURCE Chevron Corporation
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Related links:
http://www.chevron.com
CONTACT:
Scott Walker, Perth, +61 8 9216-4485, or
Margaret Cooper, Houston, +1-832-854-6239, or Nicole Hodgson,
Bangkok, +66 2545-6061, all of Chevron Corporation
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