The newly sanctioned waterflood project will advance Chevron’s strategy of maximizing its existing resources in the Gulf of Mexico. Credit: Business Wire.

American oil and gas multinational Chevron has sanctioned a waterflood project in the St. Malo field in the Gulf of Mexico (GoM) to increase its recovery.

The decision is part of the company’s strategy to maximise its existing resources in GoM. The St. Malo field is located approximately 280 miles south of New Orleans in Louisiana. It has an estimated remaining production life of 30 years.

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Chevron North America Exploration and Production president Steve Green said: “The St. Malo field is a world-class asset that is positioned for highly economic brownfield development.

“With our leading technology, experienced workforce and broad portfolio, we’re delivering value in the Gulf of Mexico.”

The waterflood project is the company’s first in the deepwater Wilcox trend. It is expected to contribute an estimated recovery of more than 175MMboe (million barrels of oil equivalent).

The project comprises two new production wells, three new injector wells, as well as topsides injection equipment for the Jack/St. Malo floating production unit, enabling Chevron to extend St. Malo field life.

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Chevron, through its subsidiaries, Chevron US and Union Oil Company of California, holds a 51% working interest in the St. Malo field. The remaining stake in the field is owned by MP Gulf of Mexico (25%), Equinor Gulf of Mexico (21.5%),  Exxon (1.25%) and Eni Petroleum US (1.25%).

In July 2019, Chevron Australia chose Man Energy Solutions to support the front-end engineering and design (FEED) study of a subsea compression solution for its Jansz-Io field.