The project involves constructing a third pipeline stretching 110 kilometres and expanding maximum gas supply capacity from the Leviathan field from 1.2 bcf per day to 1.4 bcf per day.
First gas from this third phase of development is expected to flow in H2 2025.
Funding for the project will be financed by the partners from existing cash flows.
NewMed Energy holds a 45.34% stake in the field alongside partners Chevron with a 39.66% stake and Ratio Energies with the remaining 15% stake.
In May 2023, NewMed Energy and its partners submitted a plan to the local government to develop the offshore Aphrodite field in Cyprus located 30 kilometres northwest of the Leviathan field.
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
Seatrium has been awarded a contract by SBM Offshore for the topsides fabrication and integration of an additional FPSO vessel… Read More
Diamond Offshore has secured a USD 350-million extension for an ultra-deepwater drillship deployed for Anadarko Petroleum in the US Gulf… Read More
This website uses cookies.