BP, the second largest oil company in Europe, projects a growth in production-possibly up to 650,000 barrels of oil per day - with the new oil reserve discovered in the Gulf of Mexico.
From Jaspreet Virk, The Money Times:
New York, September 2 -- BP, Europe’s second biggest oil company, reported today “giant” new oil discovery at the Tiber Prospect in the Gulf of Mexico.
The well is located in Keathley Canyon block 102, around 250 miles south east of Houston. It was drilled to a depth of approximately 35,055 feet, thus becoming one of the deepest wells ever drilled by the oil and gas industry, the company stated.
This is BP’s second material discovery, following the earlier one at Kaskida.
