US EditionChevron, Partners Approve Expansion of Israel’s Leviathan Gas Field
Chevron and partners will increase Leviathan’s gas output from 12 to 21 billion cubic meters annually to support Israel, Egypt, and Jordan’s energy needs.
- On Friday, Chevron Corporation and its subsidiary Chevron Mediterranean Limited reached a Final Investment Decision to expand Leviathan’s capacity, reflecting `their confidence in the future of energy in the region`, said Clay Neff.
- Chevron will drill three new offshore wells and add subsea infrastructure as part of the expansion, which Chevron said will take about a decade to complete with Leviathan platform upgrades.
- The project is designed to lift Leviathan’s annual output to 21 billion cu m, up from 12 billion cu m today, supported by 22.9 trillion cubic feet recoverable reserves.
- Regional export capacity and long-term deals position Leviathan as a supply hub, with planned export capacity to Egypt of 2.2 billion cu m per day amid last year’s Tel Aviv and Cairo $35 billion deal.
- NewMed Energy says partners aim to reach 14 billion cu m this year, with reports last year estimating about $2.4 billion in expansion investment.
12 Articles
12 Articles
Chevron Greenlights Major Expansion of Israel’s Leviathan Gas Field
Chevron has announced the final investment decision regarding production expansion at the giant Leviathan gas field offshore Israel. “Our decision to invest in the expansion of Leviathan’s production capacity reflects our confidence in the future of energy in the region,” said the president of Chevron Upstream, Clay Neff. “Pragmatic U.S. and regional energy policies are helping to strengthen energy security across the Eastern Mediterranean and f…
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Chevron takes FID on Leviathan gas expansion
Chevron and the working interest owners of the Leviathan natural gas reservoir reached a Final Investment Decision (FID) to expand the production capacity of the strategic Leviathan production platform located offshore Israel. The Leviathan production platform is located approximately 10 km offshore Dor, Israel, and the expansion project is expected to come online toward the … The post Chevron takes FID on Leviathan gas expansion appeared first …
Chevron to expand gas production offshore Israel
Chevron (NYSE:CVX) will expand production capacity at the Leviathan gas reservoir offshore Israel, with output expected to reach 21 billion cubic metres annually by the end of the decade Chevron is a top integrated energy company Chevron stock last traded at US$166.16, adding 4.25 per cent year-over-year and 80.43 per cent since 2021 Chevron (NYSE:CVX) will expand production capacity at the Leviathan gas reservoir offshore Israel, with output ex…
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