U.S. supermajor Chevron announced that it started work on the $3.1 billion Platong II project in the Gulf of Thailand. The project, the company said, is expected to eventually produce as much as 330 million cubic feet of natural gas per day.
"Asia is becoming the center of global energy demand growth," Chevron Vice Chairman George Kirkland said. "Platong II is one of Chevron's many developments in the region that will allow us to supply safe, reliable and affordable energy to meet this need."
The project is expected to help meet Thailand's energy demands, increasing the country's domestic energy production by more than 10 percent. It adds 20 percent to Chevron's net natural gas production from the Gulf of Thailand, the company added.
Platong II is located in shallow waters about 120 miles of the Thai coast.