Chevron’s Key Discoveries & Developments in the Deepwater Gulf of Mexico, A Story of Steady Growth
Speaker: Karl (Ken) Eisenmenger, Exploration General Manager, Chevron Deepwater Exploration and Projects
Monday, September 21, 2015
11:45 am – 12:50 pm
George R. Brown CC, Grand Ballroom B
While Chevron was a “late entrant” into the Deepwater Gulf of Mexico, with participation in our first deepwater lease sale in 1995, we were an “early entrant” into the deepwater subsalt trends. Since 1995, Chevron has been a major participant in every deepwater lease sale. That 20 year commitment to the deepwater has delivered a portfolio of conventional deepwater fields, but more importantly a significant portfolio of subsalt Miocene, and subsalt Lower Tertiary, prospects, discoveries, and producing fields. When you look back, more than two-thirds of the resources discovered to-date in the deepwater Gulf have come from “subsalt” fields, and most of the future discoveries will also be “subsalt”.
Chevron currently produces oil & gas from 10 deepwater fields, and we operate 6 of them including Blind Faith, Tahiti, and Jack-St Malo. Chevron also has 8 discovered fields in deepwater, in various stages of appraisal and pre-development, such as Big Foot, Buckskin, Moccasin, Anchor, and Guadalupe, as well as a portfolio of over 30 high-quality deepwater exploratory prospects.
The above mentioned developments have boosted Chevron’s share of deepwater production to nearly 150,000 BOPD by 2010. With our current portfolio of deepwater developments, Chevron will continue to grow its deepwater production profile significantly throughout this decade.
The U.S. Gulf of Mexico is a “World Class” petroleum basin with significant remaining oil & gas resource potential, but with many technical challenges. This presentation will describe why the deepwater Gulf is so attractive, where Chevron is active, and the technologies we are deploying to enable development of such a significant petroleum system. The recent Jack-St Malo development will be highlighted as an example of overcoming the challenges and delivering a world class project in the sub-salt Lower Tertiary trend.