Prices have not yet fallen far enough for an appreciable supply adjustment to occur, researchers say.
The Italian major posted a 10.7% rise in output in the second quarter.
Of the positions that will be eliminated 950 are in the Houston, where Chevron has about 8,000 employees.
The Santos-operated GLNG project is set to be the second project to commercialize CSG to LNG in Queensland, behind the BG Group-led QCLNG project.
The country’s oil and gas sector development also hinges on the capacity to lure capital and technology from foreign companies, according to a report.