Chevron Announces Final Investment Decision on Alder Field in UK

Chevron Corporation

announced today that its U.K. subsidiary, Chevron North Sea Limited, has reached a final investment decision and received approval from the U.K. government to proceed with the development of the Alder Field in the Central North Sea. The project has a planned design capacity of 110 million cubic feet of natural gas and 14,000 barrels of condensate per day. First production is expected in 2016.