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Chevron: Announces the beginning of the first oil production from the Palymore project in Mexico:
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Chevron announced on Monday that it has begun oil and gas production from a project in the Gulf of Mexico, bringing the company a step closer to achieving its goal of increasing its output from the basin by 50 percent this year.
The project, costing $1.6 billion, named 'Palymore', is located about 260 kilometers southeast of New Orleans, and consists of three wells, expected to produce up to 75,000 barrels of oil equivalent per day.
Chevron announced on Monday that it has begun oil and gas production from a project in the Gulf of Mexico, bringing the company a step closer to achieving its goal of increasing its output from the basin by 50 percent this year.
The project, costing $1.6 billion, named 'Palymore', is located about 260 kilometers southeast of New Orleans, and consists of three wells, expected to produce up to 75,000 barrels of oil equivalent per day.
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