Mercury News: Chevron gets OK to resume oil exploration in Gulf of Mexico
San Ramon-based Chevron has received federal approval to restart oil exploration in the Gulf of Mexico, officials said Friday. The approval marks the first completely new project in the Gulf since the deepwater drilling moratorium was lifted in the aftermath of BP's oil spill a year ago. The Bureau of Ocean Energy Management, Regulation and Enforcement said Chevron had to satisfy rigorous new safety standards implemented in the wake of the Deepwater Horizon explosion and subsequent oil spill. The standards included Chevron's ability to contain a subsea blowout. The regulatory approval is linked to a new well in Keathley Canyon Block 736, which is 216 miles off the Louisiana coastline and in 6,750 feet of water.