Reported on 14-September-09 by Rebecca Lawson, WA Business News

Australia’s biggest single resource project has officially been given the go ahead by its joint venture partners, which have stated that the first phase of development will cost $43 billion.

The Gorgon partners – Chevron, Shell and ExxonMobil – today announced the expected final investment decision. In a statement, Chevron said the project is estimated to cost about $43 billion for the first stage, below the $50 billion figure given by Premier Colin Barnett, which was never confirmed by the Gorgon partners. Initial work will start immediately on Barrow Island with first gas planned for 2014.

Briscoe Team: Although this announcement was inevitable, it is still great news for the state which will have incredible knock-on effects to the WA labour market.