Chevron to spend $22.6bn upstream in 2011

CHEVRON PLANS TO spend US$22.6bn on upstream oil and gas exploration and production projects worldwide in 2011.

"We are moving into a period of higher capital spending as we fund new legacy projects, including sizeable investment in our LNG mega projects," said George Kirkland, Chevron vice chairman.
The upstream projects to be funded include, amongst others:


• Nigeria - development of the Usan and Agbami deepwater fields and construction of the Escravos gas-to-liquids facility

• Angola - construction of an LNG facility

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