Chevron and its Project Genesis partners made the first movetoward positioning the 28,700-ton hull of the Genesis drilling andproduction platform in waters 2,600 feet deep in the Gulf ofMexico, 150 miles south of New Orleans. Project teams from ChevronUSA Production, Exxon, PetroFina, and contractors last weekup-righted the 705-foot cylindrical steel hull, which will be thefoundation for the entire platform. The hull arrived by barge fromFinland earlier this year and was floated into position from itslaunch 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. TheGenesis structure – the second floating spar in the Gulf – is thefirst to accommodate both drilling and production facilities. Nooil or gas will be stored on Genesis. All production will betransported via pipeline to existing near-shore facilities forfurther handling.

By 2000, Genesis daily production is expected to approximate55,000 barrels of oil and 72 MMcf of natural gas. The reservoircontains an estimated 160 million barrels of oil and oil-equivalentgas.

“Oil and gas exploration and production in the Gulf of Mexico isone of the most profitable businesses in Chevron. Our goal is tocontinue this position for 40 years through development ofsignificant deep-water opportunities like Genesis,” said PeterRobertson, president of Chevron USA Production.

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