Chevron & Partners Approve Leviathan Expansion Project in Israel [Yahoo! Finance]
Chevron Corporation (CVX)
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Source: Yahoo! Finance
natural gas reservoir have reached a final investment decision (FID) for the expansion of production capacity at the field. The Leviathan production platform is located nearly 10 kilometers off the coast of Dor, Israel. The project is aimed at increasing natural gas production to boost supply to Israel and support exports. Chevron mentioned that the expansion project will involve drilling three more wells at the offshore field and installing additional subsea equipment to support gas delivery and production at the platform. Additionally, the project will include the upgradation of treatment facilities at the production platform to process increased volumes. These developments are intended to support the increase in total gas supply from the field to approximately 21 billion cubic meters annually. Chevron expects the increase in gas volumes to support Israel's domestic requirements and regional exports. Chevron has highlighted that it is one of the major companies in the Eastern Me
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