© Chevron 2008 Australasia Strategic Business Unit

The Gorgon Project

October 2009

DOC ID© Chevron 2008 DATE

Gorgon Project development plan

Joint Venture comprising of Chevron 50%, Shell 25% and ExxonMobil 25%

3 x 5 MTPA LNG trains and a carbon dioxide injection project on Barrow Island

A domestic gas plant with capacity of 300 terajoules per day

LNG shipping facilities to transport products to international markets

DOC ID© Chevron 2008 DATE

The Gorgon Story

Situated 130 km off the North West Coast of Australia lies the Greater Gorgon Area

A world class resource containing more than 40 trillion cubic feet of gas – the equivalent of producing 6.7 billion barrels of oil

Gorgon is the modern-day equivalent of the Snowy Mountains Scheme

A long-term, technically-complex energy development that will mark a step-change and dramatic advancement of engineering

Barrow Island Class A nature reserve is the home of Gorgon and Australia’s oldest and largest onshore oilfield

Award-winning example of development co-existing with biodiversity protection

DOC ID© Chevron 2008 DATE

Barrow Island – relative size to Perth

Gorgon LNG Plant

DOC ID© Chevron 2008 DATE

What is LNG?

LNG is Liquefied Natural Gas is natural gas (predominately methane, CH4), that has been chilled to make it easy to store or transport

When liquid, LNG takes about 1/600th the volume of its original volume

LNG is the cleanest burning carbon fuel

DOC ID© Chevron 2008 DATE

Carbon dioxide injection project

One of the world’s most greenhouse gas efficient LNG developments

Cutting-edge carbon capture and storage technology will create one of the world’s largest carbon dioxide injection reservoir

Project emissions expected to be reduced by approximately 40% (~3.4 MTPA CO2)

About A$2 billion investment

DOC ID© Chevron 2008 DATE

Australia’s largest subsea development

It will be the country’s largest subsea development

Subsea infrastructure will produce, gather and transport reservoir fluids from the fields to Barrow Island

Up to 30 subsea wells will be drilled in water depths from 200 to 1,350 metres

Once complete, there will be more than 180 kilometres of carbon steel pipeline laid and 12 kilometres of onshore line to the LNG Plant

Pipelines from Jansz-Io will cross an underwater escarpment that rises several hundred metres on the way to Barrow Island

DOC ID© Chevron 2008 DATE

Scarp Crossing

DOC ID© Chevron 2008 DATE 10

Modularisation

Project is working hard to ensure that opportunities for local contractors are realised

The Industry Capability Network of Western Australia (ICNWA) provides an important interface to Australian industry

The modularisation will be similar to the North West Shelf Train 5 Project but involve many more modules

Up to 150,000 tonnes of module packages

Largest module about 7,000 tonnes

DOC ID© Chevron 2008 DATE

Gorgon Fast Facts

1,000 pieces of major equipment for the downstream facilities

2,100 kilometres of electrical and instrument cable

50 modules, the heaviest of which weighs 7,000 tonnes

2 LNG storage tanks with 180,000 cubic metres capacity

4 condensate tanks with 35,000 cubic metres capacity

120 million tonnes of carbon dioxide to be sequestered

DOC ID© Chevron 2008 DATE

Gorgon’s economic impact

The $43 billion Project is the biggest ever single private sector construction investment in Australia.

Greater initial investment than total North West Shelf Venture

ACIL Tasman study found in the first 30 years Gorgon will deliver:

Peak direct and indirect construction employment in WA of ~10,000 with more than 3,500 direct and indirect jobs sustained throughout the life of the Project

Around $33 billion (today’s dollars) flowing to locally purchased goods ands services

Boost to Australia’s GDP of $64 billion Government revenue of ~$40 billion (today’s dollars)

Gorgon’s massive infrastructure and investment will transform WA into a SE Asian regional petroleum service hub

DOC ID© Chevron 2008 DATE

Gorgon Plant Layout

DOC ID© Chevron 2008 DATE

LNG Load Out Facilities

DOC ID© Chevron 2008 DATE

Gorgon Fly-through animation