BP has deferred the request for tenders on two Gulf of Mexico offshore projects, Mad Dog 2 and Hopkins, due to the descent in crude oil prices, online newspaper Upstream reported Friday.

BP defers US offshore projects

NEW ORLEANS, January 15, 2016 – BP has deferred the request for tenders on two Gulf of Mexico offshore projects, Mad Dog 2 and Hopkins, due to the descent in crude oil prices, online newspaper Upstream reported Friday.

BP pushed back bids on its semi-submergible Hopkins project to Q2 2016. The discovery has an estimated potential of 160 million barrels of recoverable reserves and the production unit is set to have a throughput capacity of 600,000 barrels per day.

The Mad Dog 2 project will be delayed until February. South Korea’s Samsung Heavy Industries, Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering are expected to compete to construct the hull and topsides.

The Mad Dog project is located 306 km south of New Orleans and has capacity of 80,000 bopd. The Mad Dog 2 would add 33 subsea wells and a 140,000-bopd semisubmersible platform. It will require a high waterflood capacity and the topsides will likely weigh 25,000 tonnes.

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