Chevron (CVX) Australia said Friday it and other participants in the Gorgon joint venture, including ExxonMobil (XOM) and Shell (SHEL), have taken a final investment decision regarding the 3 billion Australian dollar ($1.99 billion) Gorgon Stage 3 development off the northwest coast of Western Australia.

Under the plan, six wells will be drilled in the two fields, which are located about 100 kilometers (60 miles) from Barrow Island in water depths of about 1,300 meters, the company said.

The development will connect the offshore Geryon and Eurytion natural gas fields to existing subsea gas gathering infrastructure and processing facilities on Barrow Island, Chevron Australia said.

The project will allow for maintaining production at Gorgon to supply gas for Australia as well as liquefied natural gas for export to Asia, the company said.

Chevron owns 47.3% of Gorgon while each ExxonMobil and Shell each hold 25%.