SAN RAMON, California -- Chevron has sanctioned development of the Jack/St. Malo project, its first operated project in the Lower Tertiary trend in the deepwater US Gulf of Mexico.
The Jack and St. Malo fields are within 25 mi (40 km) of each other, approximately 280 mi (450 km) south of New Orleans, Louisiana, in water depths of 7,000 ft (2,100 m). The initial development of the project will require an investment of approximately $7.5 billion. It will be comprised of three subsea centers tied back to a hub production facility with a capacity of 170,000 bbl of oil and 42.5 MMcf/d of natural gas. Startup is anticipated in 2014.
The Jack and St. Malo fields are estimated to contain combined total recoverable resources in excess of 500 MMboe. Seven exploration and appraisal wells have been drilled on the fields since 2003.