Chevron Corp. and its partners have approved construction of the Platong Gas II natural gas project in the Gulf of Thailand at a cost of some USD 3.1 billion with startup scheduled for first quarter 2011. The Platong Gas II development, which lies in shallow water 200km offshore, is designed to add 420MMcfd of gas processing capacity. The project feeds the growing demand for gas in the domestic market. Chevron is operator of Platong II and holds a 69.8% participating interest with Mitsui Oil Exploration Co. Ltd 27.4%, and PTT Exploration & Production PCL 2.8%.
