The US oil major was forced to halt oil production of 23,000 bopd in southern Nigeria after 18 of its workers were taken hostage there.
"Production of 23,000 bpd from Middleton, Penington, North Apoi and Funiwa (oilfields) have been shut down and personnel evacuated until the situation returns to normal," ChevronTexaco said in a statement late Friday.
The workers were taken hostage for several days from the Middleton and Penington offshore platforms, before Nigerian security forces were sent into action. Sixteen of the workers were retrieved safely and 30 captors arrested however the company says two contractors are still missing.
Meanwhile in Indonesia Chevron Texaco has made plans to retrench up to 1,500 workers due to the declining rate of production from its oil fields in the region.
The local oil and gas regulator, BPMigas, has approved the plan from Chevron Texaco subsidiary PT Caltex Pacific Indonesia to cut between 18% and 25% of its local work force.
