Chevron sees 25% output boost by 2017

ROB WATTS

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By News Wires

 12 March 2013 21:36 GMT

US supermajor Chevron said on Tuesday that the 25% growth in oil and gas production it expects to see over the next five years will come almost entirely from projects that are already under way.

At its annual analyst meeting in New York on Tuesday, Chevron said 98% of its targeted output by 2017 was already in design, construction or production, Reuters reported.

Chevron reaffirmed the target of 3.3 million barrels per day of oil equivalent, and highlighted its expansion in Kazakhstan, steam-flooded oil production in the Middle East, and even more liquefied natural gas from Canada and Australia. That is up from an estimated 2.65 million bpd this year.

"We feel very good about our 2017 target, and we anticipate continuing to grow beyond 3.3 million barrels…

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