BP: to go ahead with expansion project in Gulf of Mexico
(CercleFinance.com) - BP has approved the expansion of a deepwater project in the Gulf of Mexico, clearing the way for a rise of oil production in the region.
The British energy giant is going forward with an expansion of its existing Thunder Horse platform, which is expected to add an estimated 50,000 gross barrels of oil equivalent per day to production at its peak.
First oil expected in 2021.
Over the last five years, BP's production in the Gulf of Mexico has increased by more than 50%, rising from less than 200,000 barrels per day in 2013 to over 300,000 b/d today.
Development in the area suffered from a serious setback after the 2010 Deepwater Horizon oil spill.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The British energy giant is going forward with an expansion of its existing Thunder Horse platform, which is expected to add an estimated 50,000 gross barrels of oil equivalent per day to production at its peak.
First oil expected in 2021.
Over the last five years, BP's production in the Gulf of Mexico has increased by more than 50%, rising from less than 200,000 barrels per day in 2013 to over 300,000 b/d today.
Development in the area suffered from a serious setback after the 2010 Deepwater Horizon oil spill.
Copyright (c) 2019 CercleFinance.com. All rights reserved.