Occidental U.S. Offshore Facts

Occidental is an international energy company with assets in the United States, Middle East, Africa and Latin America. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products.

  • Among the Largest Producers – Occidental is the No. 4 producer in the deepwater Gulf of Mexico with expansive infrastructure that includes 10 operated deepwater facilities strategically located 600 miles across the Outer Continental Shelf. Our operations in the Gulf of Mexico go back to 1947, when our predecessor drilled the first well out of sight of land.
  • Large Leaseholder – Occidental is one of the largest leaseholders in the Gulf of Mexico, covering more than 1 million gross acres, with working interests in more than 180 blocks. This position provides a vast inventory for future development opportunities.
  • Record Production – Our Gulf of Mexico assets set a company record in August 2019 with average monthly net oil production of more than 145,000 barrels of oil equivalent per day, reflecting exceptional well performance.
  • Industry-leading Efficiency – Our Gulf of Mexico business continues to focus on lower drilling and completion times and improving time to market. In 2020, it took just 68 days to deliver first production from a new subsea well near the Lucius spar — one of the fastest spud-to-first production timeframes in our industry.
  • Competitive Advantage – Our infrastructure in the Gulf of Mexico provides a competitive advantage that enables us to tieback new discoveries and development opportunities in a more efficient and cost effective manner.

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  • Long-term Planning – Our technical teams continuously evaluate near- and long-term development opportunities, as well as the application of new technologies to maximize recovery and to execute our Gulf of Mexico 10-Year Plan. Our exploration team uses science and cutting–edge techniques to safely identify and find new resources.
  • Focus on Safety and the Environment – Occidental conducts business in a manner that protects the health and safety of people and the environment. We are dedicated to maintaining asset integrity, minimizing risk, and creating and maintaining safe work environments. Additionally, our Gulf of Mexico team holds an annual safety drill with the U.S. Coast Guard, Bureau of Safety and Environmental Enforcement and Bureau of Ocean Energy Management to ensure our people and platforms are prepared for emergencies.
  • Optimized Turnarounds – In 2020, Occidental successfully developed and executed an optimized maintenance plan for each of its offshore facilities that reduced the total number of days the platforms were offline by more than 50 percent from previous years, while significantly reducing health, safety and environmental risk. Developing the plan and engaging our workers early in the process were the key drivers for this success.
  • Protecting Natural Resources – Occidental uses technology and industry partnerships to produce oil and natural gas in a manner that protects the Gulf’s natural resources. The company participates in several industry response and containment organizations, including the Marine Well Containment Company, Clean Gulf Associates, Marine Spill Response Corporation and the Marine Preservation Association.

Oxy Additional News

Oxy Low Carbon Ventures<br>and Weyerhaeuser reach lease agreement for a carbon capture and sequestration project in Louisiana

Oxy Low Carbon Ventures
and Weyerhaeuser reach lease agreement for a carbon capture and sequestration project in Louisiana

Oxy Low Carbon Ventures (OLCV) subsidiary and Weyerhaeuser Company (NYSE: WY) today announced an agreement for the evaluation and potential ...
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Oxy Permian Basin Enhanced Oil Recovery (EOR) Strategy

Oxy Permian Basin Enhanced Oil Recovery (EOR) Strategy

Occidental uses EOR processes such as carbon dioxide (CO2) flooding to significantly extend the economic life of producing fields ...
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Occidental U.S. Offshore Facts

Occidental U.S. Offshore Facts

Occidental is the No. 4 producer in the deepwater Gulf of Mexico with expansive infrastructure that includes 10 operated deepwater ...
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Occidental planning to build the world’s largest direct air capture (DAC) technology facility in the Permian Basin

Occidental planning to build the world’s largest direct air capture (DAC) technology facility in the Permian Basin

Occidental, through its development joint venture 1PointFive, is planning to build the world’s largest DAC facility in the Permian Basin ...
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OXY CEO Rejects USA Carbon Tax

OXY CEO Rejects USA Carbon Tax

A carbon tax would be bad for a lot of the industry, a carbon tax would be bad for the ...
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Occidental Petroleum Unused Pipeline Capacity from Permian

Occidental Petroleum Unused Pipeline Capacity from Permian

Occidental Petroleum Pipeline Permian decline in Occidental Petroleum Corp.’s oil production in the Permian Basin has left the company with ...
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Oxy Low Carbon Ventures, together with Macquarie, Deliver World’s First Shipment of Carbon-Neutral Oil

Oxy Low Carbon Ventures, together with Macquarie, Deliver World’s First Shipment of Carbon-Neutral Oil

OXY announced today the delivery of two million barrels of carbon-neutral oil1 to Reliance Industries in India ...
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