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BP green lights 6th production center in Gulf of Mexico

BP said on Tuesday it has offered the goahead for the sixth run center, Kaskida, in the U.S. Gulf of Mexico, with oil production slated to start in 2029.

The new center features a brand-new drifting production platform with the capacity to produce 80,000 barrels of petroleum per day from six wells in the very first phase, BP said.

The London-listed business found the Kaskida field in 2006 and last year restored strategies to establish it.

The business said it plans to take advantage of its existing platform and subsea equipment designs that can be reproduced in future jobs to drive expense performances throughout Kaskida's. building, commissioning and operations.

BP's U.S. Gulf of Mexico output averaged 300,000 barrels. of oil and gas daily (bpd) in 2023 and in 2015 the business. stated it was targeting 400,000 bpd by 2030.

The British energy significant is also thinking about a 2025. financial greenlight decision for its Tiber offshore oil project. in the U.S. Gulf of Mexico.

Kaskida, Tiber, and close-by discoveries combined have an. approximated 10 billion barrels of found resources in place.

Independently, BP on Tuesday reported a second-quarter profit. of $2.76 billion, beating expectations, and increased its. dividend.

(source: Reuters)