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Chevron OK's $1.6 bln Ballymore deep water project in Gulf of Mexico

·1 min read
Chevron OK's $1.6 bln Ballymore deep water project in Gulf of Mexico
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Chevron Corp. said Tuesday it plans to spend about $1.6 billion to develop its first oil and gas project in the Norphlet trend of the U.S. Gulf of Mexico about 160 miles southeast of New Orleans. The Ballymore project is expected to generate about 75,000 barrels a day of crude oil starting in 2025. Steve Green, president of Chevron North America exploration and production, said the company's Gulf of Mexico production stands out as "some of the lowest carbon intensity production in our portfolio.