Feb 28 Chevron Corp said oil flow rates
during a production test at its St Malo well in deepwater Gulf
of Mexico exceeded 13,000 barrels per day.
Chevron, which has a 51 percent working interest in the
field, is also developing the Jack field in deepwater Gulf of
Mexico. Both fields are expected to start production in 2014.
Initial development costs are estimated at $7.5 billion, the
Petrobras Argentina SA, Statoil ASA, Exxon
Mobil Corp and ENI SPA also have interests in
"Jack and St Malo fields are expected to provide a major
step-up in Chevron's production from 2014 and produce domestic
energy for decades to come," said Gary Luquette, president of
Chevron North America Exploration and Production Co.
Chevron's net daily production in the Gulf of Mexico and the
onshore fields in the region was 153,000 barrels of crude oil,
395 million cubic feet of natural gas and 16,000 barrels of
natural gas liquids in 2012.
Production from the Big Foot project in the deepwater Gulf
of Mexico is also expected to start in 2014. Chevron has
invested $4.1 billion in the project.
Peak output from all three fields is expected to be about
100,000 barrels of oil equivalent per day.