BP introduced that it has began up the Thunder Horse Northwest Expansion venture within the deepwater Gulf of Mexico, 4 months forward of schedule and 15% beneath finances.

This is the fourth Upstream main venture to start manufacturing for BP globally thus far this yr, following seven that began up in 2017 and 6 in 2016. BP expects that new initiatives starting manufacturing between 2016 and 2021, a part of its strategic concentrate on rising fuel and advantaged oil manufacturing, will present it with 900,000 boed of latest manufacturing by 2021.

Bernard Looney, BP’s upstream chief government stated: “Our enterprise within the GOM demonstrates our upstream technique in motion. Leveraging our world-class place and amenities, we’re bringing new bbl on-line quickly and effectively, and uncovering extra alternatives close by. We are targeted on rising worth and these initiatives within the Gulf are aggressive with any alternatives we’ve got worldwide. This is what we imply by rising advantaged oil.”

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The new venture is anticipated to spice up manufacturing at Thunder Horse by an estimated 30,000 boed at its peak, taking gross output at one of many largest oil fields within the GOM to over 200,000 boed. Originally deliberate for start-up in early 2019, the venture is the newest signal of BP’s continued momentum within the U.S. offshore area.

“This newest growth of Thunder Horse is one other necessary milestone in our efforts to maximise worth from our belongings within the gulf,” stated Starlee Sykes, regional president of BP’s GOM and Canada enterprise. “Over the previous 5 years we’ve pushed up manufacturing by means of protected and dependable operations and bringing on new deepwater initiatives in a extra environment friendly and standardized method. All this difficult work is now delivering outcomes. Our GOM enterprise is prospering.”

The venture, which achieved first oil simply 16 months after being sanctioned, provides a brand new subsea manifold and two wells tied into current flowlines two miles to the north of the Thunder Horse platform.

It comes after two different main discipline expansions at Thunder Horse in recent times. In 2017, an growth of Thunder Horse’s south discipline – a 4 properly tie-back to the floating hub – boosted gross manufacturing on the discipline by over 50,000 boed. The yr earlier than, BP began up a significant water injection venture at Thunder Horse to additional improve oil manufacturing on the discipline.

Developed with companion ExxonMobil, the Thunder Horse platform sits in additional than 6,000 ft of water and commenced manufacturing in June 2008. It has the capability to deal with 250,000 gross bo and 200 million gross cfgd.

In the deepwater GOM, BP operates 4 giant manufacturing platforms – Thunder Horse, Atlantis, Mad Dog and Na Kika – and holds pursuits in 4 non-operated hubs – Mars, Olympus, Ursa and Great White.

Over the final 5 years, BP’s web common day by day manufacturing within the GOM has elevated from beneath 200,000 boed in 2013 to over 300,000 boed and is ready to develop additional with the addition of the Mad Dog Phase 2 platform in 2021 and different upcoming initiatives.

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