Chevrontexaco Corp News

ChevronTexaco Corp. ordered two LNG carriers from Samsung Heavy Industries of South Korea to support the planned growth in the company’s LNG business. The new LNG carriers will have a capacity of 154,800 cubic meters each. Both carriers will be of membrane-type design and equipped with dual fuel diesel-electric propulsion. The two carriers are planned for delivery in 2009. ChevronTexaco Global Gas President John Gass said: "ChevronTexaco has large holdings of natural gas resources in the Pacific and Atlantic Basins. Gass noted, "It is important that our company invest now to meet the growing demand for energy in the future." He added, "ChevronTexaco is making good progress at securing market access for its LNG supply projects.

Photo Credit: IZAR ChevronTexaco Corp. today announced than an affiliate had signed a Memorandum of Understanding (MOU) with the Gorgon Joint Venture in Australia for the supply of Liquefied Natural Gas for distribution to markets on the West Coast. Under terms of the MOU, a ChevronTexaco affiliate will enter into negotiations, the details of which are confidential, with the Gorgon Joint Venture which could lead to the supply of at least 2 millin tons of LNG annually over a 20-year period, beginning in 2008.

ChevronTexaco Corp. announced that its wholly owned subsidiary Cabinda Gulf Oil Co. Ltd. (CABGOC) has awarded three major contracts for the first phase of the development of the Benguela, Belize, Lobito and Tomboco (BBLT) fields in Angola's deepwater Block 14. BBLT will be the second major development in the highly prolific Block 14, which has yielded nine discoveries to date. The Kuito Field development, which began production in late 1999 -- 30 months after discovery -- is Angola's first deepwater producer. The BBLT Development is located 50 miles (80 kilometers) offshore in more than 1,250 feet (381 meters) of water. Plans are to combine the Benguela-Belize integrated Drilling and Production Platform (DPP) hub facility…