British oil giant BP, has approved the latest expansion to its Thunder Horse platform in the deepwater Gulf of Mexico.
The project will further boost output at one of the region’s largest fields which has the capacity to produce 250,000 barrels of crude oil and 200 million cubic feet of natural gas per day.
Developed with co-owner ExxonMobil, the Thunder Horse South Expansion will see the installation of two new subsea production units and eventually eight wells will be drilled as part of the overall development. The cost of the project – which is pigeon-holed as major – is yet to be disclosed.
Over the years, BP’s net production in the Gulf of Mexico has increased by more than 60%, rising from less than 200,000 barrels of oil equivalent per day in 2013 to more than 300,000 today.
This latest announcement adds to a list of new activities in the US Gulf and other projects that are set to be significant in the oil and gas industry.