Indonesian regulator says Chevron gas project delayed

|About: Chevron Corporation (CVX)|By:, SA News Editor

Chevron's (CVX) multi-billion dollar Indonesia Deepwater Development gas project is facing a delay of up to 18 months, according to the country's oil and gas minister, pushing expected production startup for the project past 2016.

CVX has said it plans a final investment decision for the project in 2014 but is subject to the timing of government approvals.

Daily production from the project is expected to peak at 1.1B cf of natural gas and 31K bbl of condensate.