Through its Chevron Mediterranean Limited subsidiary, the Chevron Corporation and co-owners of the Leviathan natural gas reserve recently made a Final Investment Decision (FID) to grow production capacity at the Leviathan production platform, strategically sited off the coast of Israel.
President of Chevron’s upstream interests, Clay Neff, commented that the Texas-headquartered company is one of the Eastern Mediterranean’s key energy players, and is focused on both natural gas production and its export. He said that Chevron’s ongoing operations were vital to the expanding energy requirements of regional and local markets.
Neff explained that the US energy giant’s choice to invest in expanding the production capacity of the Leviathan platform reflects its faith in the future of energy in the Eastern Mediterranean area. He added that practical regional and US energy policies were strengthening energy security in the location and support a situation that encourages investment globally and in the Middle East.
An international operator, Chevron conducts business in more than 100 countries around the world. It owns the Texaco lubricant brand, which is also globally available and sells solutions like grease, gear oil and coolant in the US, Europe, West Africa and South America.
The plan to expand production at Leviathan is forecast to start before 2030. The project will entail three additional wells being drilled offshore, the addition of further subsea infrastructure and the enhancement of treatment facilities based at the production site. The platform is positioned around 10 kilometres from Israel.
