Chevron plans spar installation in U.S. gulf

Genesis Spar [17726 bytes] Chevron U.S.A. Production Co. and partners are advancing a $750 million deepwater development project in the Gulf of Mexico with the world's second production spar. The group expects its Genesis spar to start production in late 1998 on a three tract unit in about 2,600 ft of water off Louisiana in the gulf's Green Canyon federal planning area. It will be industry's largest production spar and the first equipped for drilling. Production from Genesis field, about 150 miles south of New Orleans, is to peak in 2000 at about 55,000 b/d of oil and 72 MMcfd of gas. Partners estimate the field's reserves at more than 160 million bbl of oil equ...

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