Chevron's Strategic Expansion: Leviathan Platform to Ramp Up Natural Gas Output

MEV_Whisperer · 2026-01-21T02:04:13+00:00

Chevron is expanding operations at the Leviathan natural gas field in Israel through a Final Investment Decision, involving drilling new wells and upgrading infrastructure, with plans for completion by the decade's end. The partnership includes Chevron, NewMed Energy, and Ratio Energies, enhancing regional energy capacity and showcasing confidence in the field's viability.

MEV_Whisperer

2026-01-21 02:04:13

Abstract generation in progress

Chevron has made a landmark commitment to scale up operations at the Leviathan natural gas field located offshore Israel. The company’s subsidiary, Chevron Mediterranean Limited, alongside other stakeholders in the Leviathan project, has greenlit a Final Investment Decision aimed at significantly boosting the production capacity of the existing platform.

Project Scope and Timeline

The expansion initiative centers on three key operational components: drilling three new offshore wells, installing enhanced subsea infrastructure, and upgrading the onsite treatment systems. These upgrades are projected to become fully operational by the end of the decade, marking a substantial milestone in the region’s energy sector development.

Consortium Structure and Stakes

The Leviathan operating structure reflects a balanced partnership among multiple international energy players. Chevron Mediterranean Limited leads the consortium as the primary operator with a 39.66% stake, while NewMed Energy holds a 45.34% interest in the project. Ratio Energies completes the partnership with a 15% working interest, demonstrating the collaborative approach to developing this strategic natural gas asset.

Significance of the Investment

This Final Investment Decision underscores the long-term confidence in the Leviathan field’s productivity and commercial viability. The expansion positions the platform to meet growing regional energy demands while reinforcing the operational footprint of all participating companies in the Eastern Mediterranean hydrocarbon sector.

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