Chevron Needs Weeks to Repair Wheatstone, Completes Hess Acquisition
Chevron's Wheatstone gas liquefaction facility requires several weeks to return to full production after Tropical Cyclone Narelle damaged onshore and offshore equipment. The company completed multiple major growth capital projects last year, finalized its acquisition of Hess and signed a deal to appraise and drill Libya’s NC146 offshore block.
1. Wheatstone Facility Repair Timeline
Chevron’s Wheatstone gas liquefaction facility sustained damage from Tropical Cyclone Narelle, impacting equipment both onshore and offshore. The company estimates it will take several weeks to restore the plant to full production rates.
2. Completion of Growth Projects and Hess Acquisition
Over the past year, Chevron completed multiple major growth capital projects and closed its strategic acquisition of Hess, enhancing its upstream development pipeline and expanding production capacity.
3. Libya Offshore Exploration Deal
Chevron signed an agreement with Libya’s National Oil Corporation to appraise and drill the NC146 offshore block, marking the company’s re-entry into Libyan exploration nearly two decades after the last licensing round.