Chevron Energy has officially approved the expansion of the Leviathan gas field, located offshore Israel, in a strategic move that will strengthen gas supplies to Israel, Egypt and Jordan.<\/p>\n\n
With a projected investment of US$3 billion, the U.S. company is giving the green light to a key phase in the development of its infrastructure in the Eastern Mediterranean. This expansion is part of a regional strategy that seeks to respond to the growing demand for natural gas in the Eastern Mediterranean. demand for natural gas in neighboring markets<\/a><\/strong> in neighboring markets and consolidate Chevron’s position as the dominant operator in the region. <\/p>\n\n The approved plan includes the drilling of three new offshore new offshore wells<\/a><\/strong>The approved plan includes the drilling of three new offshore wells, the addition of subsea infrastructure and improvements to existing processing facilities on the Leviathan platform. These actions will increase production capacity to 21 billion cubic meters per year. 21 billion cubic meters per year, consolidating Leviathan’s position as the world’s largest offshore oil and gas platform.<\/a><\/strong>The project will consolidate Leviathan as one of the region’s energy pillars. <\/p>\n\n Chevron operates the field through its subsidiary Chevron Mediterranean Limited, with a 39.66% interest. It is joined by NewMed Energy (45.34%) and Ratio Energies (15%), local partners who have been instrumental in the development of the project and who share the vision of an energy integrated region. <\/p>\n\n The Leviathan project aligns with Chevron’s global strategy to expand its operations in natural gas<\/a><\/strong> and reducing the carbon intensity of its value chain. The company also maintains a presence in other relevant assets in the area such as the Tamar and Aphrodite fields, as well as exploration blocks in Egypt. <\/p>\n\n This new phase is scheduled to come on stream by the end of this decade, marking a substantial step forward for the energy architecture of the Eastern Mediterranean.<\/p>\n\nInfrastructure to strengthen gas in the Middle East<\/h2>\n\n
Chevron and its global strategy<\/h2>\n\n