Project is company’s second multi-billion offshore development in
Nigeria
SAN RAMON, Calif.--(BUSINESS WIRE)--Feb. 24, 2012--
Chevron Corporation (NYSE: CVX) through its Nigerian subsidiary Chevron
Nigeria Limited today confirmed first production from the deepwater
offshore Usan project in Nigeria.
“Usan represents an important milestone in progressing Chevron’s queue
of major capital projects,” said Vice Chairman George Kirkland. “The
project demonstrates our growth in West Africa, which is a leading
global resource basin.”
Discovered in 2002, the Usan field is located approximately 62 miles
(100 kilometers) off the coast of the Niger Delta in water depths of
about 2,400 feet (750 meters). The project will utilize a floating
production, storage and offloading (FPSO) vessel with a storage capacity
of two million barrels of oil and a maximum total daily production
capacity of 180,000 barrels of crude oil. Associated gas will be
re-injected in the reservoir. Partners in the Usan project include
Chevron Petroleum Nigeria Limited (30 percent), Total E&P Nigeria
Limited (20 percent and operator), Esso E&P Nigeria (Offshore East)
Limited (30 percent) and Nexen Petroleum Nigeria Limited (20 percent).
Usan is Chevron’s second deepwater project in Nigeria. The Agbami
project achieved first oil in 2008 and is currently producing
approximately 240,000 barrels of crude oil per day. Chevron holds a 67.3
percent interest and operates the Agbami project.
Chevron Corporation is one of the world's leading integrated energy
companies, with subsidiaries that conduct business worldwide. The
company's success is driven by the ingenuity and commitment of its
employees and their application of the most innovative technologies in
the world. Chevron Corporation is involved in virtually every facet of
the energy industry. The company explores for, produces and transports
crude oil and natural gas; refines, markets and distributes
transportation fuels and other energy products; manufactures and sells
petrochemical products; generates power and produces geothermal energy;
provides energy efficiency solutions; and develops the energy resources
of the future, including biofuels. Chevron Corporation is based in San
Ramon, Calif. More information about Chevron Corporation is available at www.chevron.com.
Source: Chevron Corporation
Chevron Corporation
Scott Walker, +1-713-372-4983 or +1-281-221-5765
swlk@chevron.com
