Chevron is strategically investing in the Gulf of Mexico, spending almost $12 billion and boosting its labor force as it prepares to launch two deep-water platforms now under construction.
The platforms, Jack St. Malo and Big Foot, are named after the fields where they are located. They're both being assembled at the Kiewit Fabrication Yard in South Texas. Jack St. Malo will make its way into the Gulf by year-end, while Big Foot will head out in 2014. Both are expected to produce first oil by the fourth quarter of 2014.
Joe Gregory, Chevron's general manager of major capital projects, said the two combined will yield roughly 230,000 barrels of oil per day and called the Gulf push "a significant part of [the company's] growth strategy."