Chevron Corporation (NYSE:CVX) today announced a new exploration drilling success in the Carnarvon Basin offshore Western Australia, Australia's premier hydrocarbon basin.

The Sappho-1 exploration well is located in the WA-392-P permit area approximately 87 miles (140 kilometers) northwest of Onslow. The well was drilled to a depth of 15,406 feet (4,696 meters) and encountered approximately 246 feet (75 meters) of net gas pay.

George Kirkland, vice chairman, Chevron, said, "The Sappho-1 discovery is another example of the success of Chevron's significant exploration investment in northwest Australia and will support our long-term plans to build a leading natural gas business to supply energy to Australia and the Asia-Pacific region."

Jim Blackwell, president, Chevron Asia Pacific Exploration and Production Co., said, "This is the latest in a succession of back-to-back discoveries that underscore our exploration capabilities. These discoveries will underpin the Gorgon and Wheatstone projects."

Chevron, through its Australian subsidiary, is the operator of WA-392-P with 50 percent interest, while Shell Development (Australia) and an Australian subsidiary of ExxonMobil each hold 25 percent.