Chevron Corp. clarified the production rate for Genesis, a deepwater project in the Gulf of Mexico
, which was reported in the corporation's quarterly earnings release.
The 1999 year-end gross oil-equivalent production from Genesis, operated and 57-percent owned by Chevron, was 47,000 bpd. The 63,000 bpd reported for Genesis was the peak production rate for a period during the fourth quarter, not the year-end level.
The gross oil-equivalent production from the 40 percent-owned Gemini project at year-end was 35,000 bpd, as reported in the earnings release. A third Gulf of Mexico deepwater
project, Typhoon, in which Chevron has a 50-percent stake, is expected to begin producing by mid-2001.