Israel’s Navitas Petroleum said on June 27 the Buckskin project in the U.S. Gulf of Mexico (GoM) had reached full commercial production with an output rate of more than 30,000 barrels per day of oil, a higher level than planned.
“This demonstrates the high quality of the reserve and how it has been developed as well as its production infrastructure,” Navitas Chairman Gideon Tadmor said.
Buckskin is one of the largest oil reserves discovered in the last few years in the GoM and holds about 474 million barrels of oil.
Navitas has a 7.5% stake in the project. LLOG Exploration is the operator. Other partners are Repsol, Beacon Offshore Energy Buckskin LLC and Ridgewood Energy.
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