Equinor's waterflood project in the deepwater Gulf of Mexico is expected to contribute an estimated maximum recovery of more than 150-175 million barrels of oil equivalent, the company announced in a statement on Friday
The statement confirmed that Equinor, who holds a 21.5% working interest in the St. Malo field in the Gulf of Mexico, intends to develop the asset further through a new project. The project will also support its aim to grow and strengthen its U.S. offshore portfolio, currently producing over 130,000 barrels of oil per day in total.
"The project will include two new production wells, three new injector wells, and topsides injection equipment to the Jack/St. Malo floating production unit, allowing us to extend the life of the field," the statement read.
Located approximately 280 miles (450.6 kilometers) south of New Orleans, LA., the St. Malo field has an estimated remaining production life of 30 years.
Chris Golden, senior vice president for Equinor’s North America offshore portfolio said, "they are pleased to announce this decision, which will further boost our production of high-value barrels from the Gulf of Mexico."
By Gulsen Cagatay