Gorgon is the largest natural gas project in Australian history, and one of the largest natural gas projects in the world. Chevron is the lead company.
The fields, located 80 to 125 miles off Australia's northwest coast, are estimated to contain 40 trillion cubic feet of natural gas. The gas will be liquified at a plant on Barrow Island, seen here under construction.
Production is slated to begin in 2014.
Oil production in Iraq surpassed 3 million barrels a day in July, putting it ahead of longtime rival Iran.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.32%||4.26%|
|15 yr fixed||3.36%||3.27%|
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