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CLAIM #19228 · CVX (CVX) · 2025Q2 earnings call · Aug 1, 2025 · due Mar 31, 2026

The teams have done really good work on Tamar and Leviathan to keep our growth projects there moving. And so we do expect those to come online late this year, early next year.

Mark Nelson · Vice Chairman

PENDING
graded after results covering Mar 31, 2026 are reported

In context

it will be an area -- Paul, maybe just to tack on one other thing. Mark talked earlier about some of the more centralized decision- making and execution. That's another thing as we -- we'll bring some of that decision-making into a tighter group with an enterprise focus. Operator: We'll take our next question from Arun Jayaram with JPMorgan. Arun Jayaram: I was wondering if we get a brief update on your Eastern Med gas strategy and thoughts on potentially upgrading or doing expansion project at Leviathan as well as where Aphrodite sits in terms of your thoughts. Mark A. Nelson: Yes. Thanks, Arun, for the question. Given all that's been going on in Eastern Mediterranean, our focus has been on keeping our people safe and maintaining energy supply to the region that so desperately needs it. The teams have done really good work on Tamar and Leviathan to keep our growth projects there moving. And so we do expect those to come online late this year, early next year. And you'll recall that those 2 projects essentially increase our production capacity by about 25% over the next couple of years. And we see more growth potential in the region in general. Cyprus is part of that equation, our Aphrodite project that -- where we're doing front-end engineering today. We've made good progress with our -- with the government there, and we've got approved plans to push ourselves towards FID. The initial development in Cyprus was for an FTU and I think we'll build something that leverages the Egypt market as well over time as maybe the regional market. So more to come in regard to FID, but we'll make sure we have competitive returns before we proceed on the Aphrodite project. Operator: We'll take our next question from Josh Silverstein with UBS. Joshua Ian Silver

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SEC filings for CVX · Claim quote is verbatim from the 2025Q2 earnings call.