Oil company BP has confirmed its final decision to invest $5 billion in the Tiber-Guadeloupe project , an initiative to develop a deepwater oil and gas field in the Gulf of America , which is part of BP’s new strategic direction to move away from renewable energy and refocus on oil and gas .
A floating platform with cutting-edge technology
The Tiber-Guadalupe project will represent the second production platform in the region in less than two years, utilizing state-of-the-art technology to operate safely at ultra-high pressures of 20,000 pounds per square inch . It will also have a production capacity of 80,000 barrels of crude oil per day , integrating six wells in the Tiber field and two more from the Guadalupe field.
BP will implement more than 85% of its Kaskida project design to reduce development costs by approximately $3 per barrel . This synergy between the two projects is part of a disciplined financial plan focused on efficiency and long-term returns. Together with Kaskida, this project will help BP increase its Gulf of Mexico production to more than 400,000 barrels of oil equivalent per day by 2030 .
BP’s strategic shift
To understand the importance of the Tiber-Guadeloupe project to BP’s strategy, it’s important to note that in February 2025, the company announced it would shift away from renewable energy investments and refocus on its core oil and gas operations . This strategic move seeks to close the gap with rivals ExxonMobil and Shell, which have delivered stronger shareholder returns in recent years.
In addition, the company seeks to increase its global production to between 2.3 and 2.5 million barrels of equivalent per day by 2030, and the U.S. is central to this plan, with the country expected to produce more than 1 million barrels per day by that date.
The US as a central axis of growth
Our decision to move forward with the Tiber-Guadalupe project demonstrates our commitment to continue investing in the Gulf of America and expanding our energy production in one of the world’s most important basins […] Together with its sister project, Kaskida, Tiber-Guadalupe will play a pivotal role in BP’s focus on delivering the secure, reliable energy the world needs today and tomorrow.
Andy Krieger, BP’s senior vice president for the Gulf of America and Canada.
With an estimated investment of $5 billion in the Tiber-Guadalupe project and another $5 billion in the Kaskida project, BP reaffirms its commitment to the United States as one of its main future production centers.
Source: BP .
