Chevron To Increase Production At St. Malo Field In Gulf Of Mexico

(RTTNews) - Chevron Corp. (CVX) announced the sanction of a waterflood project in the St. Malo field. The application of enabling technology is expected to increase recovery and advance Chevron's strategy of maximizing the company's existing resources in the Gulf of Mexico.

The waterflood project is expected to contribute an estimated ultimate recovery of more than 175 million barrels of oil equivalent.

Chevron, through its subsidiaries, Chevron U.S.A. Inc. and Union Oil Company of California, holds a 51 percent working interest in the St. Malo field, with co-owners MP Gulf of Mexico, LLC (25%), Equinor Gulf of Mexico LLC (21.5%), Exxon Mobil (1.25%) and Eni Petroleum US LLC (1.25%).