Chevron starts a natural gas production in Indonesia

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Chevron launches first natural gas production from the Bangka Field Development Project off the Indonesian coast, Oilprice.com said on Wednesday referring to a statement by the group’s subsidiary Chevron Indonesia Company Ltd.

It is mentioned that The Bangka project has a capacity of 110 million cubic feet of natural gas and 4,000 barrels of condensate per day. Chevron owns a 62-percent share in the Bangka field and it is the first stage of the Indonesia Deepwater Development (IDD) Project that the American company operates in East Kalimantan.

Experts from the U.S. Energy Information Administration (EIA) estimate Indonesia’s proved natural gas reserves as the thirteenth largest in the world – and the second largest in the Asia-Pacific region after China.

While some major oil companies are leaving the South East Asia region, a consortium that includes Chevron, Exxon Mobil and Lukoil, had approved a US$36.8-billion output expansion plan for the giant Tengiz oilfield. According to the consortium’s plan, annual production should be kept at a level of39 million tons of crude.