18th Oct 2018 15:41
LONDON (Alliance News) - BP PLC on Thursday said it has started up the Thunder Horse Northwest expansion project in the deepwater Gulf of Mexico four months ahead of schedule.
The project is expected to boost production at Thunder Horse by an estimated 30,000 barrels of oil equivalent per day at its peak, taking gross output at one of the largest oil fields in the Gulf of Mexico to over 200,000 barrels of oil equivalent a day.
The oil major said this expansion was the fourth Upstream major project to begin this year with seven started up in 2017 and six in 2016. BP expects these projects to grow its total oil production by 900,000 barrels of oil equivalent a day by 2021.
"This latest expansion of Thunder Horse is another important milestone in our efforts to maximise
value from our assets in the Gulf," said Starlee Sykes, regional president of BP's Gulf of Mexico &
Canada business.
"Leveraging our world-class position and facilities, we are bringing new barrels online rapidly and efficiently, and uncovering more opportunities nearby," added BP's Upstream Chief Executive Bernard Looney.
BP shares were trading 0.3% lower on Thursday at 556.70 pence each.
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