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 david.winning@wsj.com

(END) Dow Jones Newswires

July 01, 2021 23:13 ET (03:13 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Shell (LSE:SHEL)
Historical Stock Chart
From Jan 2025 to Feb 2025 Click Here for more Shell Charts.
Shell (LSE:SHEL)
Historical Stock Chart
From Feb 2024 to Feb 2025 Click Here for more Shell Charts.