Noble Energy was one of the first independent producers to explore the Gulf of Mexico. We acquired our first offshore block in 1968. Today, we have several producing fields, multiple ongoing deepwater development projects and a substantial inventory of exploration opportunities focused on subsalt Miocene and proven amplitude plays.
The company consistently delivers s hort cycle times to first production, strong well deliverability, and low production costs from our Gulf of Mexico projects.
Building on our strong track record of exploration and major project execution success, the company brought the Big Bend and Dantzler fields online in late 2015 – ahead of schedule and within sanctioned budget. Crude oil and condensate comprise more than 85 percent of the planned production. We expect first production from the Gunflint field by mid-2016.
Through growth from these fields, we expect 2016 average production to double 2015 volumes. Our 2014 Katmai discovery and existing exploration portfolio provide substantial resource opportunity to drive future growth.
For the latest Gulf of Mexico news, see the most recent presentation on the Investor Events page.