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Chevron to cut Indonesia gas project spend to ~$6B, deputy minister says

Published 06/26/2018, 11:41 AM
© Reuters.  Chevron to cut Indonesia gas project spend to ~$6B, deputy minister says
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  • Chevron (CVX +0.9%) plans to cut its investment in Indonesia's deepwater development gas project to ~$6B from $12.8B, the country's deputy energy minister tells Reuters.
  • But the official also says the project's targeted production would not be lowered, helped by factors including improvements in technology.
  • The project began production from the Bangka field in late 2016 and, when bigger fields are developed, it is expected to eventually reach peak production at 1.1B cf/day of natural gas and 31K bbl/day of condensate.
  • Now read: Wall Street Breakfast: The New Face Of General Electric (NYSE:GE)


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