Oil giant Chevron’s Big Foot deepwater project in the U.S. side of the Gulf of Mexico has started crude oil and natural gas production.
Located about 225 miles south of New Orleans, the offshore oil platform was designed to drill at a water depth of approximately 5,200 feet.
The Big Foot field is believed to contain more than 200 million barrels of oil equivalent. Discovered in 2006, the field has a projected production life of 35 years.
Chevron is using a 15-slot drilling and production tension-leg platform that is touted as the deepest of its kind in the world. The platform was 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,” Chevron North America Exploration and Production President Jeff Shellebarger said in a statement. “The project advances our interest in safely providing reliable, affordable energy to meet a growing global demand.”
Chevron holds a 60 percent stake in the Big Foot project. The company’s subsidiary Chevron U.S.A. Inc. is acting as operator.
Norwegian-owned Equinor holds a 27.5 percent stake in the project while Japanese-owned Marubeni Oil & Gas owns a 12.5 percent stake.
This article first appeared on the Houston Chronicle – an Energy Voice content partner. For more from the Houston Chronicle click here.