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Chevron to move ahead with drilling plan for Great Australian Bight

Published 11/17/2016, 02:51 PM
Chevron to move ahead with drilling plan for Great Australian Bight
CVX
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BP
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  • Chevron (CVX -0.6%) has reaffirmed its plan to drill four exploration wells in the Great Australian Bight, despite BP (LON:BP)'s recent withdrawal from its exploration of the region.
  • An Australian senate committee hearing this week heard the general manager of CVX's Australian exploration say the company was still planning to drill in 2017 or 2018 as world oil prices rebound.
  • In the hearing, CVX expressed confidence in its ability to drill without mishap, saying the company had successfully drilled more than 80 wells off Western Australia without a single loss-of-control incident.


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