Chevron today announced that its wholly owned subsidiary Chevron Australia Pty Ltd. as operator and the Gorgon joint venture participants will proceed with the approximately $4 billion (AU$6 billion) Jansz-Io Compression (J-IC) project.

Nigel Hearne, Chevron Eurasia Pacific Exploration and Production president, said J-IC represents Chevron’s most significant capital investment in Australia since the sanctioning of the Gorgon Stage 2 project in 2018.

"Using world-leading subsea compression technology, J-IC is positioned to maintain gas supply from the Jansz-Io field to the three existing LNG trains and domestic gas plant on Barrow Island," Hearne said.

"This will maintain an important source of clean-burning natural gas to customers that will enable energy transitions in countries across the Asia Pacific region."

A modification of the existing Gorgon development, J-IC will involve the construction and installation of a 27,000-tonne normally unattended floating Field Control Station (FCS), approximately 6,500 tonnes of subsea compression infrastructure and a 135km submarine power cable linked to Barrow Island.

Construction and installation activities are estimated to take approximately five years to complete.

J-IC follows the Gorgon Stage 2 project, which is nearing completion of the installation phase, to supply gas to the Gorgon plant from four new Jansz-Io and seven new Gorgon wells.

The Chevron-operated Gorgon Project is a joint venture between the Australian subsidiaries of Chevron (47.333 percent), ExxonMobil (25 percent), Shell (25 percent), Osaka Gas (1.25 percent), Tokyo Gas (1 percent) and JERA (0.417 percent).

KeyFacts Energy: Chevron Australia country profile