The Genesis Project, a deep-water oil and natural gas platform, has gone into production in 2,600 feet of water in the Gulf ofMexico. The drilling and production platform, operated by Chevron,is expected to produce approximately 30,000 barrels of oil and morethan 20 MMcf/d during 1999. Production is planned to increase at asteady pace so that in 2000 Genesis will reach its peak productioncapacity of 55,000 barrels of oil and 72 MMcf/d.

“Flowing oil and gas from Chevron’s first deep-water developmentis an exciting milestone for us,” said Peter Robertson, presidentof Chevron U.S.A. Production.

“We are very proud of the Chevron and Exxon employees who madeup the Genesis Project team, and our contractors who supportedthem. They all cleared significant logistical and technical hurdlesin order to make this happen. And they did it with a greatenvironmental and safety record,” said Andy Hardiman, ChevronU.S.A. Production vice president of the Deepwater Business Unit.

Genesis utilizes a unique floating spar platform-the first everto accommodate both drilling and production facilities.

The $750 million Genesis Project, located on Green Canyon Blocks205, 160 and 161, was developed jointly by Chevron (56.67%), ExxonU.S.A. (38.38%), and PetroFina Delaware (4.95%).

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