Supermajor Chevron plans to increase its production in the onshore US Permian basin to more than 1 million barrels per day of oil by 2025 and is rapidly increasing its operations in the deep-water Gulf of Mexico, chief executive Mike Wirth said.

The company’s production levels in the Permian basin had reached nearly 700,000 bpd in the first quarter of this year and now constituted nearly one-quarter of overall production, Wirth told attendees at Bernstein’s Strategic Decisions conference in New York City.