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Chevron, Partners Advance Gulf's Genesis

Chevron, Partners Advance Gulf's Genesis

Chevron and its Project Genesis partners made the first move toward positioning the 28,700-ton hull of the Genesis drilling and production platform in waters 2,600 feet deep in the Gulf of Mexico, 150 miles south of New Orleans. Project teams from Chevron USA Production, Exxon, PetroFina, and contractors last week up-righted the 705-foot cylindrical steel hull, which will be the foundation for the entire platform. The hull arrived by barge from Finland earlier this year and was floated into position from its launch site in Ingleside, TX.

The $750-million Genesis Project will develop the Green Canyon (Block 205) oil and gas field using a floating spar platform. The Genesis structure - the second floating spar in the Gulf - is the first to accommodate both drilling and production facilities. No oil or gas will be stored on Genesis. All production will be transported via pipeline to existing near-shore facilities for further handling.

By 2000, Genesis daily production is expected to approximate 55,000 barrels of oil and 72 MMcf of natural gas. The reservoir contains an estimated 160 million barrels of oil and oil-equivalent gas.

"Oil and gas exploration and production in the Gulf of Mexico is one of the most profitable businesses in Chevron. Our goal is to continue this position for 40 years through development of significant deep-water opportunities like Genesis," said Peter Robertson, president of Chevron USA Production.

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