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BP announces $1.3 billion expansion for Gulf of Mexico project

BP as announced an expansion of its Atlantis development in the Gulf of Mexico.

BP announces $1.3 billion expansion for Gulf of Mexico project BP announces $1.3 billion expansion for Gulf of Mexico project


Houston, January 9 - Neftegaz.RU. BP has announced a $1.3 billion expansion of its Atlantis development in the Gulf of Mexico amid the discovery of huge additional oil reserves.

 

BP reported that it has approved a major expansion at the Atlantis field in the U.S. Gulf of Mexico and has also identified significant additional oil resources that could create further development opportunities around the production hubs it operates in the region.

 

Atlantis Phase 3 will create a new subsea production system, from 8 new wells to be tied into the platform, due to come on stream in 2020. BP said advanced seismic imaging has revealed 400 million extra barrels of oil equivalent at Atlantis, and an additional billion barrels at the nearby Thunder Horse project.

 

The project is expected to boost production at the platform by an estimated 38,000 barrels of oil equivalent a day (boe/d) gross at its peak. It will also access the eastern area of the field where the advanced imaging and reservoir characterization identified additional oil in place.

 

BP said its net production in the region has increased by more than 60% in the last 5 years, bolstered by recent start-up projects like Thunder Horse and the Mad Dog.

 

Source : Neftegaz.RU