Chevron (CVX) and Partners to Invest $24M in Tamar Gas Field

U.S oil and gas major, Chevron Corporation (CVX) and its partners decided to invest $24 million to bolster the natural gas production capacity of the Tamar reservoir, off the coast of Israel. The offshore site is a major source of energy for the country. It also supplies natural gas to Egypt and Jordan. The investment is part of a two-phase plan that will bolster the natural gas production capacity to about 1.6 billion cubic feet (BCF) per day.The Tamar gas field is operated by Chevron, with a 25% stake. Th ...