Chevron Sanctions St. Malo Waterflood Project
Hoping to increase recovery and maximize its assets in the US Gulf of Mexico (GOM), Chevron has sanctioned the Stage 4 waterflood project at the St. Malo field. The project, Chevron’s first in the deepwater Wilcox trend, is expected to contribute an estimated ultimate recovery of more than 175 MMboe from one of its larger GOM deepwater projects.
“The St. Malo field is a world-class asset that is positioned for highly economic brownfield development,” Steve Green, president of Chevron North America Exploration and Production, said in a statement.
The project will include two new production wells, three injector wells, and topsides injection equipment for the Jack/St. Malo floating production unit (FPU), which Chevron said would help extend the life of the field.
Located in 7,000-ft water depth approximately 280 mi south of New Orleans, the St. Malo field has an estimated remaining production life of 30 years. Chevron first began producing from Jack/St. Malo in December 2014. The fields generated 130,000 total B/D of liquids and 21 MMcf/D of natural gas in 2018.
Jack and St. Malo were co-developed with subsea completions flowing back to a floating semi-submersible production facility that acts as a hub for 43 subsea wells. Stage 2 was completed at the end of 2018, and drilling has progressed on Stage 3 development. Chevron holds a 51% working interest in St. Malo, with Equinor, Exxon Mobil, Eni, Murphy Oil, and Petrobras own the remainder.
After spending the past few years focused on its US onshore operations, particularly in the Permian Basin, Chevron is showing more interest in the GOM. The company said in its 2Q 2019 earnings conference call that it would take final investment decision on its Anchor discovery early next year. Last month, Chevron wrapped up a second appraisal well at its Ballymore discovery in Mississippi Canyon.
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