Chevron’s Upstream Portfolio: Major Projects to Start in 2016–2017
Chevron’s (CVX) Upstream segment production is poised to grow, with some of the major projects starting up in 2016–2017.
![Maitali Ramkumar - Author](https://media.marketrealist.com/brand-img/B3rTvxF2z/200x200/img_20181231_204721-maitali-ramkumar-1595895220527.jpg)
Sep. 20 2016, Updated 11:04 a.m. ET
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Chevron’s Upstream project pipeline
Chevron’s (CVX) Upstream segment production is poised to grow, with some of the major projects starting in 2016–2017. Chevron’s behemoth project Gorgon has begun its Train 1 operations at 70% capacity. Full capacity is expected by 4Q16.
Chevron plans for Train 2 to be operational by 4Q16 and Train 3 by 2Q17. Plus, Wheatstone production is projected to commence by mid-2017.
Chevron’s (CVX) Angola LNG project is now operating at 75% capacity. In 2H16, Chevron expects projects like Mafumeira Sul in Angola, Bangka in Indonesia, and Alder in the North Sea to be operational.
Chevron expects around 0%–4% production growth in 2016. Plus, Chevron has a huge proved reserve base of 11.2 billion barrels of oil equivalent, which is expected to provide growth to its Upstream portfolio. The iShares US Energy ETF (IYE) has ~41% exposure to integrated energy sector stocks.