Chevron to spend $17.3 billion on 2010 upstream activities

Chevron Corp. has announced its capital and exploratory spending program for 2010, which includes $17.3 billion in total upstream expenditures.

Offshore staff

SAN RAMON, California -- Chevron Corp. has announced its capital and exploratory spending program for 2010, which includes $17.3 billion in total upstream expenditures.

Chevron 2010 Planned Capital & Exploratory Expenditures$ Billions
US Upstream

4.1

International Upstream

13.2

Total Upstream

17.3

Major capital projects include development of the Gorgon natural gas project in Western Australia and opportunities in the deepwater US Gulf of Mexico, offshore western Africa, and the Gulf of Thailand. Funding is also planned for focused appraisal in core hydrocarbon basins, the company says.

Major upstream spending expected in 2010 includes: 
Western Australia - development of Gorgon and Wheatstone natural gas resources, including LNG facilities 
US Gulf of Mexico - deepwater exploration and development, including Jack-St. Malo, Perdido, Tahiti, Tonga, and Big Foot
Brazil - development of the Frade and Papa Terra fields
Nigeria - development of the Usan and Agbami deepwater fields
Angola - construction of LNG facilities and development of block 14 deepwater assets.
Thailand - development of the offshore Platong gas II project
China - development of the Chuandongbei natural gas project
Canada - Athabasca oil sands expansion.

12/10/2009

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