Chevron Deploys a Second Ultra-Deepwater Drillship
Chevron U.S.A. Inc., a wholly owned subsidiary of Chevron Corporation (NYSE: CVX), today announced that it has commenced operations on the Discoverer Inspiration, an ultra-deepwater drillship, in the U.S. Gulf of Mexico. The vessel has the capability to drill wells in 12,000 feet (3,650 meters) of water to a total depth of 40,000 feet (12,200 meters). The state-of-the-art vessel is the second such vessel commissioned by Chevron in the last six months. Last August, Inspiration's sister ship, DiscovererClear Leader, began work for Chevron in the ultra-deep water Gulf of Mexico.
"Both these newly built vessels were designed to Chevron's specifications and will work on a strong queue of deepwater opportunities," said George Kirkland, vice chairman, Chevron. "Going beyond the limits of previous technology, Inspiration and Clear Leader provide Chevron with the most advanced offshore drilling capabilities as we explore for new sources of energy in the U.S. and globally."
The Inspiration will begin work for Chevron drilling deepwater Gulf of Mexico exploration prospects and then develop existing discoveries such as Jack, St. Malo and Buckskin. Chevron will operate Inspiration under a five-year contract with Transocean. Chevron is one of the top lease holders and producers in the Gulf.
The new drillship's upgrades not only improve safety, reliability and efficiency, but also extend overall deepwater drilling and completion capabilities. Enhancements include an upgraded top-drive system, an expanded high-pressure mud-pump system and expanded completions capabilities. These enhancements, along with Transocean's patented dual-activity technology, allow parallel operations from a single derrick. These innovations are expected to reduce drilling costs by 5 to 15 percent over conventional single-activity rigs, depending on reservoir depth and complexity.
Chevron is widely recognized as a leader in deepwater drilling. The company holds the current world record for drilling water-depth at 10,011 feet (3,051 meters).
