BP reaches FID on US Gulf of Mexico oil project

NEW ORLEANS, July 30, 2024 – BP has taken a final investment decision on its Kaskida oil project in the US Gulf of Mexico, the company said on Monday.

In its first phase, the 100% BP-owned Kaskida project will include a new floating production platform with the capacity to produce 80,000 bopd from six wells.

Production from the project – BP’s sixth oil and gas hub in the Gulf of Mexico – will commence in 2029.

“Developing Kaskida will unlock the potential of the Paleogene in the Gulf of Mexico for BP, building on our decades of experience in the region,” said Gordon Birrell, BP’s executive vice-president of production and operations.

BP discovered the Kaskida field in 2006. The field is located in the Keathley Canyon area about 400 kilometres southwest of the coast of New Orleans, Louisiana.

When combined with the nearby Tiber discovery, the Kaskida project will unlock the potential future development of 10 billion barrels of resources in place, BP said.

Read our latest insights on: