Oklahoma-based Kerr-McGee Corp. said its strategy for growth continues to be focused in deep water, where the company has a proven track record of success in exploration, development and low-cost production, and the technical expertise to capitalize on a five-year inventory of drillable prospects.
Kerr-McGee expects to drill 10 to 15 deepwater exploration wells in 2001. Exploratory drilling next year is expected to include eight to 11 deepwater wells in the Gulf of Mexico, three to five wells on defined North Sea prospects and 14 to 17 international wells, in areas including Australia, China, Brazil and West Africa.
Kerr-McGee plans to drill 12 appraisal wells in 2001 to further define size of the Gunnison field in the deepwater Gulf of Mexico and CFD 11-1 and CFD 12-1 prospects on Blocks 04/36 and 05/36, respectively, in Bohai Bay offshore China.
Production volumes next year are expected to remain relatively constant.
Production for 2002 is projected to increase by approximately 13 percent, with initial production from the North Sea's Leadon and the Nansen and Boomvang fields in the Gulf of Mexico.
© 2000 Mena Report (www.menareport.com)
