Chevron launches FEED for new deepwater hub

Chevron has initiated front-end engineering and design of a new hub to develop the Jack and nearby St. Malo discoveries in the deepwater Gulf of Mexico, said George Kirkland, executive VP of Upstream and Gas, at the company's annual meeting with financial analysts today.

Offshore staff

NEW YORK -- Chevron has initiated front-end engineering and design of a new hub to develop the Jack and nearby St. Malo discoveries in the deepwater Gulf of Mexico, said George Kirkland, executive VP of Upstream and Gas, at the company's annual meeting with financial analysts today.

The platform will be equipped with capacity to process 120,000 to 150,000 boe/d, he said. It will be moored in 7,000 ft (2,134 m) of water. Jack and St. Malo are estimated to hold combined recoverable resources in excess of 500 MMbbl.

Meanwhile, the company says it continues hook-up and commissioning of theTahiti spar, with first production expected in the second quarter. All six production wells have been completed. The platform has capacity for 125,000 b/d of oil and 70 MMcf/d of natural gas. Tahiti holds estimated recoverable resources of 400-500 MMboe.

3/10/2009

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