Chevron floats Usan venture

US energy giant Chevron confirmed that the company and its co-venturers are ready to develop the Usan field off Nigeria.

Chevron's development plan for the Usan field includes a floating production, storage and offloading vessel with a storage capacity of 2 million barrels of oil. First production is expected in late 2011 with peak production of 180,000 barrels of oil per day. The associated gas will be reinjected in the reservoir. Co-venturers in the Usan field development are Chevron (30 %), Elf (20%), Esso (30%) and Nexen (20%).
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