Gulf prospect yields discovery for ChevronTexaco, Marathon

Petroleum News staff-Houston

Operator ChevronTexaco and partner Marathon Oil have turned up an oil discovery at their Perseus prospect on Viosca Knoll Block 830 in deepwater Gulf of Mexico, Marathon said Aug. 12.

The exploration well, just five miles from the Petronius field, encountered 166 feet of net oil pay, Marathon said. ChevronTexaco and Marathon are equal partners in both the Perseus discovery and Petronius.

The Perseus well was drilled to a total depth of 13,134 feet in 3,376 feet of water. Fluid samples indicate the reservoir contains 30 degree API gravity oil, Marathon said.

ChevronTexaco and Marathon are considering various development options for the discovery, with an eye to launching production in 2005. However, it appears the partners are leaning toward a sub-sea tieback to the Petronius platform.

“The Perseus discovery is expected to … extend the Petronius production profile,” Marathon said. Petronius currently produces at a daily average of 60,000 barrels of oil and 100,000 million cubic feet of gas.

Petronius came on-stream in July 2000, but not without some difficulty. The project was delayed in December 1998 when one of the platform’s two topside modules sank during installation. The $75-million module included production equipment, waterflood facilities and crew quarters.