Subsea 7 was awarded a sizeable contract by Chevron Corp. for the development of the Ballymore project offshore U.S. Gulf of Mexico in water depths of up to 6,550 ft, a company press release announced on June 1.
"The Ballymore project is an excellent example of how we continue to build on our collaborative engagement with Chevron," Subsea 7 vice president Craig Broussard commented in the release. "We have been working together to drive value creation through early engagement, optimizing project delivery and accelerating first oil."
The project covers the installation of a steel catenary riser, flowline and control system. U.K.-based Subsea 7 has supported Chevron with early engineering prior to the award.
The offshore scope will be executed in 2023, and project management and engineering will take place in Subsea 7’s Houston office.
Announced by Chevron on May 17, the Ballymore project has a design capacity of 75,000 bbl/d of crude oil and will be developed as a three-mile subsea tieback to the existing Blind Faith platform, also operated by Chevron.
The project is expected to "add a reliable supply of U.S.-produced energy to help meet global demand," according to Steve Green, president of Chevron North America Exploration and Production.
Recommended Reading
Permian Resources Continues Buying Spree in New Mexico
2024-01-30 - Permian Resources acquired two properties in New Mexico for approximately $175 million.
Eni, Vår Energi Wrap Up Acquisition of Neptune Energy Assets
2024-01-31 - Neptune retains its German operations, Vår takes over the Norwegian portfolio and Eni scoops up the rest of the assets under the $4.9 billion deal.
NOG Closes Utica Shale, Delaware Basin Acquisitions
2024-02-05 - Northern Oil and Gas’ Utica deal marks the entry of the non-op E&P in the shale play while it’s Delaware Basin acquisition extends its footprint in the Permian.
Vital Energy Again Ups Interest in Acquired Permian Assets
2024-02-06 - Vital Energy added even more working interests in Permian Basin assets acquired from Henry Energy LP last year at a purchase price discounted versus recent deals, an analyst said.
California Resources Corp., Aera Energy to Combine in $2.1B Merger
2024-02-07 - The announced combination between California Resources and Aera Energy comes one year after Exxon and Shell closed the sale of Aera to a German asset manager for $4 billion.