Help Desk -
9717405332, 9599714297, 9810335381
Email
Password

BP unlocks a billion oil barrels in Gulf of Mexico with new technology

Gasoil News - Published on Fri, 11 Jan 2019

Image Source: yimg.com
Reuters reported that BP said it has discovered two new oilfields in the Gulf of Mexico and has identified an additional billion barrels of oil at an existing field thanks to new seismic technology. The British company, which has only recently turned a corner following the deadly 2010 Deepwater Horizon spill, also on Tuesday announced plans to expand production at its Atlantis oilfield in the Gulf of Mexico, consolidating its status as the largest oil producer in that region. The company has put a heavy emphasis on technology and data processing capabilities in recent years in order to unlock new resources and cut costs.

The $1.3 billion Atlantis Phase 3 development will include drilling eight wells and a new subsea production system that will boost BP's production by 38,000 barrels of oil equivalent per day (boed). It is scheduled to start production in 2020.

Together with the new discoveries, BP aims to grow its Gulf of Mexico production from over 300,000 boed at present to 400,000 boed by the mid 2020s.

Source :

Posted By : Joykumar Irom on Fri, 11 Jan 2019
Related News from Gasoil segment