SEATTLE (Oil Monster): London-headquartered oil and gas major bp announced that it has made a final investment decision on the Kaskida project in the US Gulf of Mexico. This will further boost the company’s previously stated goal of delivering affordable and reliable energy to customers. This will be the company’s sixth hub in the Gulf of Mexico.
The hub comprises of a floating production platform. In the initial phase, it will have a production capacity of approximately 80,000 barrels of crude oil per day from six wells. The production is scheduled to commence in 2029. Along with other resources that bp possess in the Paleogene, Kaskida too will prove to be a world-class development for the company.
The Kaskida field is located in the Keathley Canyon area about 250 miles southwest off the coast of New Orleans and is fully owned by bp. The estimated discovered recoverable resources at the hub are estimated at around 275 million barrels of oil equivalent. There is scope for further drilling of wells, subject to further evaluation.
Commenting on the development, Gordon Birrell, bp’s executive vice president of production and operations said that developing Kaskida will unlock the potential of the Paleogene in the Gulf of Mexico for the company, by building on its decades of experience in the region. This is a critical step in realizing the full potential of the region, he added.
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