Production resumes at Petronius

Production has resumed at the Hurricane Ivan-damaged Petronius platform in the Gulf of Mexico, owners ChevronTexaco and Marathon Oil said March 15.

Currently, Petronius is producing about 75 percent of pre-hurricane rates of some 53,000 barrels of oil equivalent per day, with efforts under way to ramp up production to pre-Ivan levels by the end of March, the companies said.

As Hurricane Ivan approached the Alabama Gulf Coast in the fall of 2004, its eye passed almost directly over Petronius. Significant damage occurred to the rig crew quarters, production equipment and deck structures.

Petronius is about 130 miles southeast of New Orleans. Prior to the hurricane, Petronius averaged 42,000 barrels of oil and 65 million cubic feet of natural gas per day.

ChevronTexaco operates Petronius with a 50 percent interest. Marathon holds the remaining 50 percent interest.

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