BAKU, Azerbaijan, April 11. Chevron Corporation
has confirmed an oil discovery at the Bandit prospect in the Gulf
of America, following an announcement by operator Occidental,
Trend reports
via the company.
The exploration well, located in Green Canyon Block 680
approximately 125 miles south of the Louisiana coast, encountered
high-quality oil-bearing Miocene sands. The partners are currently
assessing the results to determine the future steps.
The discovery could be developed through subsea tie-backs to
nearby facilities operated by Occidental, as well as other
infrastructure in the area.
The Bandit project is operated by Occidental, which holds a
45.375 percent working interest. It is co-owned by Chevron
subsidiary Chevron U.S.A. Inc. with a 37.125 percent stake, and
Woodside Energy (Deepwater) Inc., which holds 17.5 percent.
Chevron noted that its exploration strategy focuses on
disciplined investments across a balanced portfolio of
infrastructure-led and frontier opportunities. The company remains
the largest leaseholder and a leading producer in the Gulf of
America, with both operated and non-operated assets, and sees
discoveries like Bandit as reinforcing its deepwater
capabilities.
