Offshore Energy · March 5, 2026 · 1 min read

Chevron hires Hanwha Ocean for Mediterranean gas field expansion

Analysis

OilCyprus Editorial

Chevron Mediterranean Limited has contracted Hanwha Ocean for module fabrication related to the expansion of gas export capacity from a large natural gas field off the coast of Israel. This signifies continued investment in and development of the Eastern Mediterranean gas resources.

Key Facts

Chevron is expanding gas export capacity from a natural gas field off the coast of Israel.
Hanwha Ocean, a South Korean company, will fabricate modules for the expansion.
The project is being undertaken by Chevron Mediterranean Limited (CML).

Market Impact

This contract demonstrates the ongoing development of natural gas resources in the Eastern Mediterranean. It also highlights the globalization of the oil and gas supply chain, with a US-based company contracting a South Korean firm for work in the Mediterranean. This could lead to further opportunities for companies specializing in module fabrication and offshore construction.

Why This Matters

This deal signifies continued investment in Eastern Mediterranean gas resources, potentially impacting regional energy security and export capabilities.

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