Chevron Announces First Oil From Big Foot Project in the Deepwater Gulf of Mexico
Chevron Corporation (NYSE:CVX) today announced that the Chevron-operated
Big Foot deepwater project, located in the U.S. Gulf of Mexico, has
started crude oil and natural gas production. The field is located
approximately 225 miles (360 km) south of New Orleans, La., in a water
depth of approximately 5,200 feet (1,584 m.).
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The Chevron-operated Big Foot project uses a 15-slot drilling and production tension-leg platform, the deepest of its kind in the world, and is designed for a capacity of 75,000 barrels of oil and 25 million cubic feet of natural gas per day. (Photo: Business Wire)
The Big Foot field was discovered in 2006, is estimated to contain total
recoverable resources of more than 200 million oil-equivalent barrels
and has a projected production life of 35 years. The project uses a
15-slot drilling and production tension-leg platform, the deepest of its
kind in the world, and is designed for a capacity of 75,000 barrels of
oil and 25 million cubic feet of natural gas per day.
“The Big Foot project strengthens Chevron’s deepwater portfolio and
further demonstrates that the Gulf of Mexico is an integral part of our
diverse global portfolio and long-term strategy,” said Jeff
Shellebarger, President of Chevron North America Exploration and
Production. “The project advances our interest in safely providing
reliable, affordable energy to meet a growing global demand.”
Chevron’s subsidiary, Chevron U.S.A. Inc., is the operator of Big Foot
with a 60 percent working interest. Co-owners are Equinor Gulf of Mexico
LLC (27.5%) and Marubeni Oil & Gas (USA) LLC (12.5%).
Chevron Corporation is one of the world’s leading integrated energy
companies. Through its subsidiaries that conduct business worldwide, the
company is involved in virtually every facet of the energy industry.
Chevron explores for, produces and transports crude oil and natural gas;
refines, markets and distributes transportation fuels and lubricants;
manufactures and sells petrochemicals and additives; generates power;
and develops and deploys technologies that enhance business value in
every aspect of the company’s operations. Chevron is based in San Ramon,
Calif. More information about Chevron is available at www.chevron.com.
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Factors” on pages 19 through 22 of the company’s 2017 Annual Report on
Form 10-K. Other unpredictable or unknown factors not discussed in this
press release could also have material adverse effects on
forward-looking statements.
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