BP has reached a final investment decision (FID) on the Tiber-Guadalupe project in the Gulf of America, approving its second new production platform in less than two years in the critical U…
BP has reached a final investment decision (FID) on the Tiber-Guadalupe project in the Gulf of America, approving its second new production platform in less than two years in the critical U.S. offshore region.
Fully-owned by BP, Tiber-Guadalupe will be the company’s seventh operated oil and gas production hub in the Gulf of America, featuring a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day.
The project includes six wells in the Tiber field and a two-well tieback from the Guadalupe field. Production is expected to start in 2030.
The Tiber floating production platform, based more than 85% on Kaskida's design, is expected to start production in 2030.
Tiber and Guadalupe fields, located in the Keathley Canyon area about 300 miles southwest of New Orleans, are estimated to have recoverable resources of around 350 million barrels of oil equivalent from the initial phase. Additional wells could be drilled in future phases, subject to further evaluation.
The estimated $5 billion Tiber-Guadalupe project is one of the 8-10 major projects expected to start up globally between 2028 and 2030 and reflects BP’s strategy to grow its upstream business and long-term shareholder value. Together with its fully-owned
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