Enbridge Inc. will build a $130 million crude oil pipeline in the Gulf of Mexico to connect a planned Hess Corp. deepwater development to existing pipelines offshore. The company expects to complete the pipeline by 2018.
In a Tuesday (Jan. 12) statement, the Canadian energy transportation firm said the pipeline would be 16 miles long, originating at the Hess Stampede project in the Green Canyon region of the Gulf of Mexico about 220 miles southwest of New Orleans.
The pipeline will connect the development to a third-party pipeline system in order to bring crude onshore.
In October, Hess and its partners made the final decision to invest $1.5 billion in the Stampede development. The oilfield, located in more than 3,500 feet of water, is estimated to hold about 350 million barrels of recoverable oil.
The company plans to drill six production wells and four water injection wells to encourage oil production.
Hess, Norway's Statoil, Union Oil Co., a Chevron subsidiary, and Canada's Nexen each own a 25 percent interest in the development.
Enbridge's offshore assets off the Louisiana and Mississippi coasts include interest in 11 natural gas gathering and transport pipelines as well as one crude oil pipeline.
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