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Sixth Chevron drillship arrives in the Gulf of Mexico

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Transocean’s Deepwater Asgard arrived in the Gulf of Mexico in April 2015 to work under a two-year contract with Chevron. (Chevron)

Chevron is pressing forward with its deepwater exploration program, deploying a sixth drillship in a region deep in the Gulf of Mexico, the company announced Thursday.

The drillship, called the Deepwater Asgard, will work in the Mississippi Canyon under a two-year contract with Transocean, the Swiss rig contractor. Drillships are merchant vessels used for exploratory drilling in deep water.

The Asgard can accommodate 200 workers, operate in water as deep as 10,000 feet and drill down at least 40,000 feet, according to Transocean’s fleet data.

Chevron has remain committed to offshore exploration despite collapsing crude prices that have spurred some offshore drillers to defer projects and idle rigs. BP earlier this year decided to end contracts early for deep-water rigs in the Gulf of Mexico, a decision that forced offshore drilling contractor Seadrill to cut 159 jobs assigned to its West Sirius Rig. Slumping demand also caused Transocean to scrap 18 rigs.

Chevron has said offshore development is key to its growth plans. The multinational corporation based out of San Ramon, California was the largest leaseholder in the Gulf of Mexico last year, pumping 133,000 barrels of crude and 320 million cubic feet of natural gas every day.

The Original Posted by Fuel Fix

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