Chevron Says Gorgon JV to Invest Around US$4 Billion at Jansz-Io Gas Field

By David Winning

SYDNEY--Chevron Corp. signaled its largest capital investment in Australia for three years, joining with partners in the Gorgon liquefied natural gas project to approve US$4 billion of spending on technology to maintain gas supply from the Jansz-Io field.

Chevron said a floating Field Control Station weighing 27,000 metric tons would be built and installed at the Jasnz-Io field, along with around 6,500 tons of subsea compression infrastructure and a 135-kilometer underwater power cable that will connect to the existing Gorgon facility on Barrow Island.

Construction and installation would take around five years, said Chevron, which has a 47.3% stake in Gorgon and acts as operator. Other shareholders include ExxonMobil Corp. and Royal Dutch Shell PLC, each with a 25% interest.

Write to David Winning at [e-mail]

(END) Dow Jones Newswires

07-01-21 2313ET