No injuries, platform undamaged and not connected to subsea wells or
tendons at time of incident
SAN RAMON, Calif.--(BUSINESS WIRE)--Jun. 1, 2015--
Chevron Corporation (NYSE: CVX) today advised that the Big Foot
tension-leg platform (TLP) will be moved to sheltered waters from its
location in the deepwater U.S. Gulf of Mexico following damage to subsea
installation tendons.
The tendons were pre-installed in preparation for connection to the Big
Foot TLP. Between Friday, May 29 and Sunday, May 31, 2015, several
tendons lost buoyancy.
The Big Foot TLP was not connected to any subsea wells or tendons at the
time of the incident and was not damaged. There are no producing
wells at Big Foot at this time. There were no injuries and there has
been no release of any fluids to the environment.
Damage to the tendons, which are not connected to subsea wells and are
used to attach the TLP to the seafloor, is being assessed. First
production will not commence in late 2015 as planned.
Chevron is one of the world’s leading integrated energy companies, with
subsidiaries that conduct business worldwide. The company is involved in
virtually every facet of the energy industry. Chevron explores for,
produces and transports crude oil and natural gas; refines, markets and
distributes transportation fuels and lubricants; manufactures and sells
petrochemical products; generates power and produces geothermal energy;
and develops the energy resources of the future, including biofuels.
Chevron is based in San Ramon, Calif. More information about Chevron is
available at www.chevron.com.
Cautionary Statement Relevant to Forward-Looking Information for the
Purpose of “Safe Harbor” Provisions of the Private Securities Litigation
Reform Act of 1995.
Some of the items discussed in this press release are forward-looking
statements about Chevron. Words or phrases such as "anticipates,"
"expects," "intends," "plans," "targets," "forecasts," "projects,"
"believes," "seeks," "schedules," "estimates," "may," "could,"
"budgets," "outlook," “on schedule,” “on track” and similar expressions
are intended to identify such forward-looking statements. The statements
are based upon management's current expectations, estimates and
projections; are not guarantees of future performance; and are subject
to certain risks, uncertainties and other factors, some of which are
beyond the company's control and are difficult to predict. Among the
important factors that could cause actual results to differ materially
from those in the forward-looking statements are changes in prices of,
demand for and supply of crude oil and natural gas; actions of
competitors; the inability or failure of the company’s joint-venture
partners to fund their share of operations and development activities;
the potential failure to achieve expected net production from existing
and future crude oil and natural gas development projects; potential
delays in the development, construction or start-up of planned projects;
the potential disruption or interruption of the company’s net production
or manufacturing facilities or delivery/transportation networks due to
war, accidents, political events, civil unrest, severe weather, other
natural or human factors; government-mandated sales, divestitures,
recapitalizations and changes in fiscal terms or restrictions on scope
of company operations; foreign currency movements compared with the U.S.
dollar; and general economic and political conditions. The reader should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Unless legally
required, Chevron undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150601006847/en/
Source: Chevron Corporation
Chevron Corporation
Cam Van Ast, Houston, +1 713-372-0063
