PARIS (Agefi-Dow Jones)–U.S. oil and gas company Chevron and energy producer TotalEnergies announced on Tuesday that they would jointly develop the Ballymore oil field, located in the Gulf of Mexico.
“The Ballymore field will be developed with 3 producing wells connected to the existing Blind Faith floating production unit operated by Chevron,” TotalEnergies said in a statement.
“The start of production is scheduled for 2025 with a capacity of 75,000 barrels of oil per day,” added the French group, which holds a 40% stake in the Ballymore field through its subsidiary TotalEnergies E&P USA. Chevron USA, a subsidiary of Chevron, holds a 60% stake as operator.
The project “will require an investment of approximately $1.6 billion,” Chevron said in a separate statement.
-Alice Doré, Agefi-Dow Jones; +33 (0)1 41 27 47 90; [email protected] ed: ECH
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May 17, 2022 08:37 ET (12:37 GMT)