Oil major Chevron (NYSE:CVX) has announced the start of crude oil and natural gas production from the Chevron-operated Big Foot deepwater project in the U.S. Gulf of Mexico.
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.).
The Big Foot field was discovered in 2006 and is estimated to contain total recoverable resources of more than 200 million oil-equivalent barrels. It 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%).