Stampede deep-water subsea development project, US Gulf of Mexico
Name and Location
Stampede deep-water subsea development project, US Gulf of Mexico.
Client
Union Oil Company, of California, a subsidiary of Chevron Corporation (24%), Hess Corporation (operator, with a 25% interest), Statoil (25%) and Nexen (25%).
Project Description
Stampede is a deep-water subsea development, which will be tied back to a newly constructed tension leg platform.
The Stampede field has total estimated recoverable resources of more than 300-million barrels of oil equivalent. The project includes the joint development of the Knotty Head and the Pony discoveries, in Green Canyon Blocks 511, 512 and 468. The blocks are located 354 km south-east of New Orleans, in Louisiana, in 1 600 m of water, and target lower Miocene reservoirs at a depth of about 9 144 m.
Value
The project will cost about $6-billion.
Duration
Drilling is planned to start in the fourth quarter of 2015, with first production expected in 2018.
Latest Developments
Union has reached a final investment decision to proceed with the development of the Stampede project.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Chevron, tel +1 925 842 1000.
Hess Corporation, tel +1 212 997 8500.
Statoil head of US offshore communications, development and production North America Jim Schwartz, tel +1 713 485 2589.
Nexen, tel +1 403 699 4000.
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