BP starts up Gulf oil field ahead of schedule and under budget

The Thunder Horse Northwest Expansion project is expected to boost production by around 30,000 barrels of oil equivalent per day

Shell makes final investment decision in Gulf of Mexico development

Vito is said to have an estimated recoverable resource of 300 million barrels of oil equivalent

BP field expansion starts early and under budget

BP’s expansion of the Thunder Horse field in the Gulf of Mexico has started ahead of time and under budget. The development of the new subsea production system will boost the site’s production capacity by an additional 50,000 barrels of oil each day. The project has begun 11 months early and is expected to cost […]

BP green lights $9bn project in Gulf of Mexico

BP has given the go-ahead for a deepwater project worth $9 billion (£7.2bn) in the Gulf of Mexico. The Mad Dog Phase 2 oil project will consist of a new floating production platform with a capacity of 140,000 gross barrels of crude oil per day from up to 14 production wells. Oil production under the project, […]

Shell to sell $425m Gulf of Mexico oil assets

Shell has agreed to sell a number of assets in the Gulf of Mexico to EnVen Energy for $425 million (£324.73m). The Brutus/Glider assets include a platform, four blocks of oil fields and oil and gas subsea pipelines. They produce the equivalent of 25,000 barrels of oil a day or 5.8% of Shell’s output in the Gulf of Mexico. […]

Leases for Gulf of Mexico gas exploration sold online

Oil and gas leases for nearly 24 million acres of ocean in the Gulf of Mexico are to be sold in an online auction. Abigail Ross Hopper, Director of the US Bureau of Ocean Energy Management (BOEM) announcing the auction said: “The Gulf of Mexico continues to be one of the most productive basins in […]

BP to pay investors $175m over oil spill claims

BP has agreed to pay out $175 million (£121.5m) to its shareholders over claims the oil giant misled them about the severity of the Gulf of Mexico oil spill in 2010. The Deepwater Horizon rig explosion spewed millions of barrels of oil onto the shorelines of several states and killed 11 workers. The settlement relates […]

Gulf of Mexico oil production ‘to reach record high in 2017’

Crude oil production in the Gulf of Mexico (GOM) is estimated to increase to record high levels next year. That’s despite oil prices forecast to remain low, according to the US Energy Information Administration (EIA). Production is expected to average around 1.63 million barrels per day (b/d) this year and 1.79 million b/d in 2017, […]

$38m to study oil effects in Gulf of Mexico

Almost $38 million (£24.32m) has been invested to study the effects of oil in the Gulf of Mexico. A total of 22 research projects will use a share of the grant from the Gulf of Mexico Research Initiative (GoMRI), an independent 10-year programme established following the Deepwater Horizon incident. Five years ago BP’s oil rig explosion […]

BP to pay $20bn for Gulf of Mexico oil spill

UK oil company BP has agreed to pay more than $20 billion (£13bn) to resolve all claims from the Gulf of Mexico oil spill in 2010. The US Department of Justice made the announcement, of what is said to be the largest settlement with a single entity in American history. Five years ago an explosion on the Deepwater Horizon oil […]