BP PLANS TO START PRODUCTION IN 2029 FROM THE KASKIDA HIGH-PRESSURE PROJECT IN THE GULF OF MEXICO (USA)

Source: World Oil

The Kaskida development will unlock the Paleogene potential in the Gulf of Mexico for BP, building on our decades of experience in the region, said Gordon Birrell, BP's executive vice president for production and operations.

Technology has played and will continue to play a key role in driving Kaskida from discovery to production. Together with our other Paleogene resources, we expect it to prove to be a world-class development. Today is a critical step in realising its potential.

BP's 100%-owned Kaskida field has discovered recoverable resources currently estimated at around 275 million barrels of oil equivalent (mbeo) in the initial phase. Additional wells could be drilled in future phases.

Located in the Keathley Canyon area, approximately 250 miles southwest of the coast of New Orleans, the Kaskida project unlocks the potential future development of 10 billion barrels of resources discovered in the Kaskida and Tiber catchment areas.

BP plans to leverage existing subsea platform and equipment designs that can be replicated on future projects to drive cost efficiencies in the construction, commissioning and operations of Kaskida.

By employing an industry-led design solution, Kaskida will be simpler to build and simpler to operate, improving safety and delivering greater value for BP, said Andy Krieger, BP's senior vice president for the Gulf of Mexico and Canada.

Kaskida is in a prime location, with a stable fiscal regime and market access. It will also be BP's first project in the Gulf of Mexico to produce from reservoirs that will require well equipment rated at up to 20,000 pounds per square inch (20K).

Advances in 20K drilling technology coupled with updated seismic imaging are allowing BP to safely develop Kaskida and move forward with plans to develop other fields such as Tiber, which is expected to progress towards a final investment decision next year.