Chevron issues revised proposal for next-phase Leviathan gas project offshore Israel
Middle East Regional Report
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Chevron has submitted an updated plan for the further development of the Leviathan reservoir offshore Israel.
According to partner NewMed Energy, this provides updates concerning the proposed Phase 1B project including expansion of processing facilities on the platform, and the location and timing of drilling.
The planned Stage 1 includes drilling of three additional production wells, installation of related subsea systems and the processing changes. Stage 1 would raise the total gas production capacity to ~21 Bcm/year, with an estimated cost of about $2.4 billion.
Stage 2 would mainly involve drilling/commissioning of further production wells and subsea systems, and potentially laying of a fourth pipeline between the field and the near-shore platform, to raise capacity by another ~2 Bcm/year to ~23 Bcm annually.
Assuming regulatory approvals and the signing of the agreements for the sale of the gas to the domestic market and for export, FID for Stage 1 of the 100-Bcm plus development would follow in the next few months.
