American oil major Chevron said Wednesday that it has started producing oil and natural gas in its Big Foot deepwater project located in the U.S.' Gulf of Mexico.
Discovered in 2006, the Big Foot field is estimated to contain total recoverable resources of more than 200 million oil-equivalent barrels with a projected production life of 35 years, according to Chevron's statement.
"The Big Foot project strengthens Chevron’s deepwater portfolio and further demonstrates that the Gulf of Mexico is an integral part of our diverse global portfolio and long-term strategy,” Jeff Shellebarger, president of Chevron North America Exploration and Production, said in a statement.
"The project advances our interest in safely providing reliable, affordable energy to meet a growing global demand," he added.
Located approximately 225 miles (360 kilometers) south of New Orleans in the state of Louisiana, the Big Foot field is in a water depth of approximately 1,584 meters.
Chevron’s subsidiary, Chevron U.S.A. Inc., is the operator of Big Foot with a 60 percent working interest, according to the statement.
Co-owners are Equinor Gulf of Mexico LLC with a 27.5 percent working interest, and Marubeni Oil & Gas (U.S.A.) LLC with a 12.5 percent interest.
By Ovunc Kutlu