bp at the moment introduced an oil discovery on the Far South prospect within the deepwater U.S. Gulf of America/Gulf of Mexico.
bp drilled the exploration properly in Inexperienced Canyon Block 584, positioned in western Inexperienced Canyon roughly 120 miles off the coast of Louisiana in 4,092 ft of water. The properly was drilled to a complete depth of 23,830 ft. The Far South co-owners are bp (operator, 57.5%) and Chevron U.S.A. Inc. (42.5%).
Each the preliminary properly and a subsequent sidetrack encountered oil in high-quality Miocene reservoirs. Preliminary knowledge helps a doubtlessly industrial quantity of hydrocarbons.
This discovery within the deepwater Gulf of America/Gulf of Mexico underscores how bp is in motion to step up funding in exploration and strengthen its upstream portfolio below the technique reset introduced in February 2025.
“This Far South discovery demonstrates that the Gulf of America stays an space of unimaginable development and alternative for bp,” stated Andy Krieger, Senior Vice President, Gulf of America and Canada. “Our Gulf of America enterprise is central to bp’s technique. We’re targeted on delivering extra inexpensive and dependable vitality from this area, constructing our capability to over 400,000 barrels of oil equal per day by the tip of the last decade.”
bp expects to develop its world upstream manufacturing to 2.3 – 2.5 million barrels of oil equal in 2030, with the capability to extend manufacturing out to 2035. Round 1 million barrels of oil equal per day (boed) are anticipated to be delivered from the U.S. onshore and offshore areas by 2030.