Chevron launches Tahiti rig, eyes 4% output growth in '09

05/6/2009 | Bloomberg

Chevron announced that its $4.7 billion Tahiti offshore platform in the Gulf of Mexico began production this week following seven years of development and delays. The company estimates the site's oil and natural gas output will hit 125,000 barrels per day and 70 million cubic feet per day, respectively, with oil reserves estimated at up to 500 million barrels. The company expects production at the site will help with its goal to increase global output by 4% this year.

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