BP to boost Gulf of Mexico production while rivals focus on shale drilling GlobeBusiness
, with two wells added in the near term and eight total wells planned, the company said on Monday. BP did not disclose the cost of the investment.
BP said it plans to increase its Gulf production to about 400,000 barrels of oil equivalent per day by the mid 2020s. That’s about a fifth of the region’s total production. The company’s Gulf production has already increased more than 60 per cent from 2013 to more than 300,000 boed. “One of the significant advantages of deepwater or offshore wells relative to onshore U.S. wells is their high productivity,” said Emeka Emembolu, BP’s Gulf of Mexico vice president for reservoir development. “On average, Deepwater Gulf of Mexico wells produce around 5,000 barrels of oil per day.”Some offshore wells have production rates starting at 30,000 barrels per day, he said. That’s compared with an average of just 650 barrels a day for Permian wells, according to U.S.
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