Deepwater Oil Project in Gulf of America Commences Production
Two major oil companies, Chevron and TotalEnergies, have successfully initiated production at the Ballymore deepwater oil and natural gas project in the Gulf of America. This development marks a significant milestone in Chevron’s strategic plan to increase its oil equivalent production in the region.
The Ballymore subsea tie-back project is expected to produce up to 75,000 barrels of oil per day and 50 million cubic feet of gas per day through three wells connected to Chevron’s Blind Faith floating production unit. This innovative approach demonstrates Chevron’s commitment to leveraging technology and driving efficiencies in deepwater oil production.
Chevron’s Vice President of Gulf of America, Brent Gros, emphasized the importance of projects like Ballymore in enhancing energy production while minimizing environmental impact. Gros stated, “Ballymore is an example of how we are leveraging technology and driving efficiencies to help produce affordable, reliable energy from the deepwater Gulf of America, one of the lowest carbon intensity oil and gas producing basins in the world.”
With an estimated recoverable resource of 150 million barrels of oil equivalent, the Ballymore project is located in the Mississippi Canyon area, 160 miles southeast of New Orleans. Chevron’s subsidiary operates the project with a 60% working interest, while TotalEnergies holds a 40% working interest.
TotalEnergies’ President of Exploration & Production, Nicolas Terraz, expressed optimism about the project’s contribution to the company’s production capacity and growth targets. Terraz stated, “The start-up of Ballymore will increase TotalEnergies’ production capacity in U.S. deepwater to more than 75,000 boe/d and contribute to the Company’s targeted hydrocarbon production growth of over 3% in 2025.”
Furthermore, the Ballymore project aligns with TotalEnergies’ integrated energy model, focusing on low breakeven and low emissions oil and gas projects, along with LNG and integrated power developments in the United States.
The successful commencement of production at Ballymore follows Chevron and BP’s recent oil discovery in the Gulf of America, highlighting the ongoing exploration and development activities in the region.