Chevron Adds New Drillship to Deepwater Operations in the Gulf of Mexico
October 17 2014 - 8:54AM
Business Wire
The Pacific Sharav will work for Chevron under
a five-year contract
Chevron Corporation (NYSE: CVX) today announced that the Pacific
Sharav, a deepwater drillship built to Chevron's specifications,
has arrived in the Gulf of Mexico to work under a five-year
contract with Pacific Drilling.
The Pacific Sharav will work for Chevron
under a five-year contract. Photo courtesy Pacific Drilling.
(Photo: Business Wire)
The Pacific Sharav is an upgraded Dual-Load-Path,
Samsung-12000-design, dynamically-positioned drillship, specially
modified to accept a Dual Gradient Drilling System, and able to
operate in moderate environments and water depths up to 12,000
feet.
“The addition of the Pacific Sharav as Chevron’s fifth drillship
in the deepwater Gulf of Mexico confirms our consistent exploration
and development drilling program in the area,” said Jeff
Shellebarger, president of Chevron North America Exploration and
Production Company. He added, “Chevron subsidiaries are among the
top lease holders in the Gulf of Mexico and the area continues to
be a key enabler in our growth plans, which includes our Jack/St.
Malo project, due to come online this year.”
“Chevron worked with Pacific Drilling from the very early stages
in the design and specifications of the drillship capabilities to
ensure the right fit with our drilling program and needs, building
on lessons learned and capitalizing on a long-standing business
relationship,” said Steve Thurston, vice president, Chevron
Deepwater Exploration and Projects, Chevron North America
Exploration and Production.
The Pacific Sharav has commenced operations in the Keathley
Canyon area.
Chevron is one of the world’s leading integrated energy
companies, with subsidiaries that conduct business worldwide. The
company is involved in virtually every facet of the energy
industry. Chevron explores for, produces and transports crude oil
and natural gas; refines, markets and distributes transportation
fuels and lubricants; manufactures and sells petrochemical
products; generates power and produces geothermal energy; provides
energy efficiency solutions; and develops the energy resources of
the future, including biofuels. Chevron is based in San Ramon,
Calif. More information about Chevron is available at
www.chevron.com.
Cautionary Statement Relevant to Forward-Looking Information for
the Purpose of “Safe Harbor” Provisions of the Private Securities
Litigation Reform Act of 1995.
Some of the items discussed in this press release are
forward-looking statements about Chevron. Words such as
"anticipates," "expects," "intends," "plans," "targets,"
"forecasts," "projects," "believes," "seeks," "schedules,"
"estimates," "budgets," "outlook" and similar expressions are
intended to identify such forward-looking statements. The
statements are based upon management's current expectations,
estimates and projections; are not guarantees of future
performance; and are subject to certain risks, uncertainties and
other factors, some of which are beyond the company's control and
are difficult to predict. Among the important factors that could
cause actual results to differ materially from those in the
forward-looking statements are changes in prices of, demand for and
supply of crude oil and natural gas; actions of competitors; the
inability or failure of the company's joint-venture partners to
fund their share of operations and development activities; the
potential failure to achieve expected net production from existing
and future crude oil and natural gas development projects;
potential delays in the development, construction or start-up of
planned projects; the potential disruption or interruption of the
company's net production or manufacturing facilities or delivery
transportation networks due to war, accidents, political events,
civil unrest, or severe weather; government-mandated sales,
divestitures, recapitalizations and changes in fiscal terms or
restrictions on scope of company operations; foreign currency
movements compared with the U.S. dollar; and general economic and
political conditions. The reader should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. Unless legally required, Chevron undertakes
no obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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for Chevron CorporationCam Van Ast, +1 713-372-0063
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