Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
BP sees 100K barrels per day of new output in Gulf of Mexico by 2025
by Renzo Pipoli
Washington (UPI) Jan 9, 2019

BP approved a new phase of its Atlantis field, as well as identified 1 billion barrels of oil in place at the Thunder Horse field and announced two new discoveries near the Na Kika platform that will add a combined 100,000 barrels of oil equivalent to its output in the Gulf of Mexico in coming years.

BP said that its current Gulf of Mexico production of 300,000 barrels of oil equivalent daily will grow "to around 400,000 barrels of oil equivalent through the middle of the next decade," according to a Tuesday release.

Recent project startups, including the announced Thunder Horse expansion and a water injection project, in addition to a second platform at its Mad Dog field that will come online in late 2021, will support the projected output growth, BP added.

The company approved the Atlantis Phase 3 development program, in which BP has rights to 56 percent of the field and will cost $1.3 billion. BHP, which holds the other 44 percent, "is expected to make a final investment decision" early this year, BP said.

"The approval for this latest development comes after recent BP breakthroughs in advanced seismic imaging and reservoir characterization revealed an additional 400 million barrels of oil in place at the Atlantis field," BP said.

In addition, BP has identified significant additional oil in place at its Thunder Horse field in the Gulf of Mexico through a recently developed "seismic imaging technique known as Full Waveform Inversion." The method reduces needed exploration time from about a year to just weeks.

"Application of this technology and reservoir characterization has now identified a further 1 billion barrels of oil in place at the Thunder Horse field," it said.

BP also announced "two oil discoveries in the Gulf of Mexico, at the Manuel and Nearly Headless Nick prospects."

The Manuel discovery is located east of its Na Kika platform, which will make it possible to extract it via subsea tieback to the Na Kika platform. BP's partner in the Manuel discovery is Shell, which has a 50 percent interest.

The Nearly Headless Nick discovery is in an area operated by the Lousiana-based LLOG exploration company where BP has a 20 percent stake.

BP had announced an expansion of its Thunder Horse field in October.

At the time it said it operated four large production platforms in the Gulf of Mexico -- Thunder Horse, Atlantis, Mad Dog and Na Kika. It said it also holds interests in four non-operated hubs, or offshore floating facilities -- Mars, Olympus, Ursa and Great White.

According to the Energy Information Administration, crude oil production in the Gulf of Mexico was 1.7 million barrels per day in October, the latest figures available.


Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


OIL AND GAS
Crude oil prices see increase as U.S.-China trade talks restart
Washington (UPI) Jan 7, 2019
Crude oil prices were up Monday alongside news of the restart of trade talks between the United States and China, and also after a report of fewer operating rigs after recent price drops. West Texas Intermediate crude front-month future prices rose 2 percent to $48.92 per barrel as of 8:00 a.m. EST, while Brent crude futures rose 1.6 percent to $58.02 per barrel as of the same time. "China will be a focus today, " Tariq Zahir, managing member of investment-advisory firm Tyche Capital Adv ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Green catalysts with Earth-abundant metals accelerate production of bio-based plastic

Yeast makes ethanol to prevent metabolic overload

Tel Aviv researchers develop biodegradable plastic from seawater algae

A lung-inspired design turns water into fuel

OIL AND GAS
Seawater turns into freshwater through solar energy

NREL details great potential for floating PV systems

How to spot every solar panel in the United States

Stabilizing 2D layered perovskites for photovoltaics: setting up a defensive wall

OIL AND GAS
Upwind wind plants can reduce flow to downwind neighbors

More than air: Researchers fine-tune wind farm simulation

Widespread decrease in wind energy resources found over the Northern Hemisphere

Wind power vulnerable to climate change in India

OIL AND GAS
Why does nuclear fission produce pear-shaped nuclei?

Framatome develops mobile technology for non-destructive analysis of radioactive waste containers

The first new Generation 3 EPR nuclear reactor enters commercial operation

China powers up next-generation nuclear plant

OIL AND GAS
A 'pacemaker' for North African climate

Nations count cost of 2018 climate disasters

Record backing for climate petition against French govt

2018 hottest year for a century in France

OIL AND GAS
For auto tech at CES, "user experience" becomes the key

Nonprofit groups join industry in self-driving campaign

German court opens way for diesel case against Daimler

Sidestepping trade war, Musk breaks ground on Tesla Shanghai plant

OIL AND GAS
Conditions for papal visit to Iraq 'not yet met': Vatican

New Iraq minister quits over videos linking her brother to IS

US-Iraq relations since 2003

Trump's surprise troop visit sparks criticism in Iraq

OIL AND GAS
Kim seeks to up ante with Xi summit: analysts

North Korea's Kim visits China ahead of expected Trump summit

Trump says received 'great' letter from N. Korea's Kim

Trump 'looks forward' to new meeting with N.Korea's Kim









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.