Chevron reaches FID for Mad Dog 2

Following approvals by BP and BHP Billiton, Chevron has reached a final investment decision (FID) for the Mad Dog 2 project in the U.S. Gulf of Mexico. 

The final investment decision was reached in February 2017, Chevron said in an SEC filing last week. This project milestone was also confirmed by the company’s spokesperson in an e-mail to Offshore Energy Today.

The project is operated by BP, with 60.5 percent working interest. BHP Billiton holds 23.9 percent and Union Oil Company of California, an affiliate of Chevron U.S.A. Inc., has 15.6 percent interest. The Mad Dog 2 is an extension to the Mad Dog project in the U.S. Gulf of Mexico which has been in production since 2005 via a spar facility designed to process 80.000 barrels a day.

The operator sanctioned the Mad Dog 2 in December 2016. The project will include a new floating production platform with the capacity to produce up to 140,000 gross barrels of crude oil per day from up to 14 production wells.

The platform was reportedly ordered at South Korea’s Samsung Heavy Industries shipyard in early January. Come February and the second partner, BHP, also approved the project allocating $2.2 billion for its share of the development. Oil production is expected to begin in late 2021.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply