BP Approves $5B Offshore Project in Gulf of Mexico ...Middle East

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BP Approves $5B Offshore Project in Gulf of Mexico
source : OILPRICE ( Middle East ) () 56
BP (NYSE:BP) is moving forward with plans to develop an offshore drilling project in the Gulf of Mexico worth $5 billion. It is expected to take five years for the Tiber-Guadalupe oil and gas project to come online. In 2030, the floating platform will have the capacity to produce 80,000 barrels of oil per day, en route to BP increasing its US upstream output to more than 1 million barrels of oil equivalent per day. Reuters said the announcement underscores the British energy major’s commitment to the US region to rebuild its oil and gas business,…

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