Chevron: to boost production at Gulf of Mexico field
(CercleFinance.com) - US oil major Chevron said on Thursday that it aims to boost production at its St.
Malo Field in the Gulf of Mexico.
The project - which includes two new production wells - is expected to contribute an estimated recovery of over 175 million barrels of oil equivalent in the end, the company said.
Located approximately 280 miles south of New Orleans, the St. Malo field has an estimated remaining production life of 30 years.
The move is part of the company's strategy of maximizing its existing resources in the Gulf of Mexico, it said.
The St. Malo field was discovered in 2003.
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