BP and its heritage companies have been at work in the Gulf of Mexico since the 1950s, and they have been exploring in the deepwater Gulf of Mexico (depths greater than 1,200 feet) for more than a quarter century.
BP is the largest investor in the Gulf of Mexico over the last 10 years. In addition, BP is the leading acreage holder in the deepwater Gulf, with ownership in around 600 leases.
A Deep Commitment
BP is committed to the deepwater U.S. Gulf of Mexico, where it currently has a multi-billion investment program underway. BP operates four large production platforms in the region — Atlantis, Thunder Horse, Mad Dog and Na Kika. These assets are early in their life-cycle and offer significant long-term growth, with, on average, only 20 percent of their resource base produced to date.
- Operating in more than 7,000 feet of water and located approximately 150 miles south of New Orleans, Atlantis’ production capacity is approximately 200,000 barrels of oil and 180 million cubic feet of gas per day.
- Located 150 miles southeast of New Orleans and in 6,050 feet of water, Thunder Horse is designed to process up to 250,000 barrels of oil and 200 million cubic feet of natural gas per day.
- Located in 4,500 feet of water some 190 miles south of New Orleans, Mad Dog has the capacity to produce up to 80,000 barrels of oil and 60 million cubic feet of natural gas per day.
- Servicing multiple fields, Na Kika is located 140 miles southeast of New Orleans in 6,340 feet of water. It is designed to process up to 130,000 barrels of oil and 550 million cubic feet of natural gas per day.
BP also holds interest in three non-operated fields — Mars, Ursa and Great White. BP employs more than 2,300 people in the Gulf of Mexico business and supports tens of thousands of additional jobs in the region. BP’s world-class scientists, engineers and R&D capabilities have together enabled the company to achieve a number of technological firsts in finding and producing oil from the deepwater Gulf. Located at depths reaching more than 7,000 feet in some locations, the Mardi Gras Pipeline transportation system moves oil and gas production from the four BP-operated production platforms in the deepwater Gulf of Mexico to onshore facilities.
Committed to the Future
BP currently operates a sizable drilling rig fleet in the deepwater Gulf. These state-of-the-art rigs are engaged in a range of activities including exploration, appraisal and development activities. BP is progressing three major operated projects in the Gulf of Mexico: Atlantis North, Na Kika Phase 3 and Mad Dog Phase 2.
- The Atlantis North project includes the drilling and completion of new wells and the addition of subsea infrastructure to tieback to BP’s existing Atlantis platform. It will utilize available production capacity at the Atlantis hub.
- The Na Kika Phase 3 project includes the drilling and completion of two new wells and subsea infrastructure to tieback to the existing Na Kika platform.
- BP is currently reviewing existing plans and other options in evaluating how to develop the Mad Dog Phase 2 project. BP fully intends to develop the resources at Mad Dog Phase 2 and is committed to moving forward with the right plan.
In June 2012, BP announced the start-up of the Galapagos development. The development includes the subsea tieback of three deepwater fields — Isabela, Santiago and Santa Cruz — to the BP-operated Na Kika facility. BP also continues to progress a strong portfolio of development options, including Paleogene discoveries Kaskida, Tiber and Gila.
- Kaskida, a large oil field discovered in 2006, is currently operated and 100 percent owned by BP. Located 250 miles southwest of New Orleans, BP is committed to developing Kaskida prospect and remains very excited about its future contribution to BP’s deepwater Gulf of Mexico portfolio.
- Tiber, an oil discovery in the deepwater Gulf in 2009, is believed to be one of the largest finds in the region. Drilled to a total depth of 35,055 feet, including 4,132 feet of water, the Tiber exploration well is one of the deepest ever drilled by the oil and gas industry. In Tiber, BP and Chevron will each hold equity interest of 31 percent, Petrobras 20 percent and ConocoPhillips 18 percent.
- Gila is BP’s third significant discovery in recent years in the emerging Paleogene trend in the deepwater Gulf of Mexico. It is located approximately 300 miles southwest of New Orleans, in nearly 5,000 feet of water. An initial discovery well was drilled to a total depth of 29,221 feet, but further appraisal drilling will be required to determine the size and potential commerciality of the discovery. As a result of the agreements, BP, Chevron and ConocoPhillips will have the same working interests across Gila and Gibson and any future centralized production facility. Chevron will hold equity interest of 36 percent, BP 34 percent and ConocoPhillips 30 percent.