Operator CVX and its joint venture partners - including Exxon Mobil (NYSE:XOM) and Royal Dutch Shell (RDS.A, RDS.B) - plan to sink 11 new wells in the Gorgon and Jansz-Io fields and build offshore pipelines and subsea structures to pipe the gas to the nearby 15.6M metric tons/year LNG plant on Barrow Island.
CVX does not specify a cost on stage two of the project but says development will fit within its planned annual investment of $18B-$20B through 2020.
Drilling reportedly is planned to start next year, with the full expansion taking about four years.
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