Seeking Alpha

Indonesian regulator says Chevron gas project delayed

  • 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.
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