BP Says It Has Made "Giant" Oil Find In Deep U.S. Gulf Well
"Appraisal will be required to determine the size and commerciality of the discovery," BP said in a statement.
The Tiber well, 250 miles southeast of Houston, Texas, is in 1,259 meters of water and was drilled to a total depth of 10,685 meters, "making it one of the deepest wells ever drilled by the oil and gas industry," the company said.
“Tiber represents BP’s second material discovery in the emerging Lower Tertiary play in the Gulf of Mexico, following our earlier Kaskida discovery,” said Andy Inglis, chief executive of exploration and production at BP. “These material discoveries together with our industry-leading acreage position support the continuing growth of our deep water Gulf of Mexico business into the second half of the next decade.”
BP's net production from the U.S. Gulf is around 400,000 barrels a day, the bulk of which comes from the large Thunder Horse field.
BP operates Tiber and has a 62% stake in the field. Its partners are Petroleo Brasileiro SA (PBR) and ConocoPhillips (COP).
At 0926 GMT, BP shares were up 2.6%, or 13 pence, at 533 pence.
-By James Herron, Dow Jones Newswires; +44 (0)20 7842 9317; james.herron@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=7vCNYoNKp8EfgGw9Wn0A4A%3D%3D. You can use this link on the day this article is published and the following day.
Publié le 02 septembre 2009 Copyright © 2009 Dowjones
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