Chevron aims to increase its U.S. Gulf of Mexico production to 300,000 net barrels of oil-equivalent (BOE) per day by 2026, and two projects that recently started operations could help it get there.

In September, Chevron announced that it began water injection at its St. Malo offshore field. This is Chevron’s first waterflood project in the deepwater Wilcox trend.

The project, which was completed under budget, is expected to recover approximately 175 million gross BOE. That’s in addition to the almost 400 million gross BOE produced to date from the Jack and St. Malo fields.

Less than 100 miles away, Chevron’s Tahiti facility—which has produced more than 500 million gross BOE since 2009—has also expanded waterflood operations to boost production.

Bruce Niemeyer President Chevron Americas Exploration & Production:
“These achievements follow the recent production startup at our high-pressure Anchor Field, reinforcing Chevron’s position as a leader in technological delivery and project execution in the Gulf.”

Dive deeper

Oil and gas produced by Chevron in the U.S. Gulf of Mexico are some of the lowest carbon intensity barrels in the world.

The Jack/St. Malo and Tahiti platforms are among six operated by Chevron in the Gulf of Mexico. That includes Chevron’s newest addition, Anchor, which achieved first oil in August.

Chevron’s target of reaching 300,000 net BOE per day in the region by 2026 represents a 50% increase over 2020 levels.

About Chevron

Chevron (NYSE: CVX) is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to enabling human progress. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We aim to grow our oil and gas business, lower the carbon intensity of our operations and grow lower carbon businesses in renewable fuels, carbon capture and offsets, hydrogen and other emerging technologies.