Energy giant BP announced a new oil discovery in the Far South exploration well , located in Green Canyon Block 584 in the western Gulf of Mexico, approximately 193 kilometers off the coast of Louisiana. This well, drilled to a total depth of 7,200 meters, reinforces the company’s upstream expansion strategy in the region.
New oil discovery in the Gulf of Mexico
According to preliminary data, both the initial well and an additional sidetrack have encountered oil in excellent-quality Miocene reservoirs , suggesting a potentially commercial hydrocarbon volume . The operation, led by BP with a 57.5% stake, also includes Chevron USA Inc. as a strategic partner with the remaining 42.5%.
Andy Krieger, the company’s senior vice president for the Gulf of Mexico and Canada, noted that this area continues to demonstrate outstanding potential for the company’s growth. BP aims to achieve daily production of more than 400,000 barrels of oil equivalent in this basin by the end of the decade.
Far South boosts BP’s global plan
The Far South well is located just 6 kilometers from the Constellation field, where the company also has a stake. This discovery is part of a broader plan that includes the drilling of 10 to 15 exploration wells by 2025 , as part of a global program of approximately 40 new wells over the next three years.
With more than 40 discoveries in the last decade in regions such as Trinidad, Egypt, and the Gulf itself, BP reaffirms its commitment to deepwater exploration as a pillar of its sustainable energy growth.
The company plans further exploration in the ocean basin. According to Reuters, it has approved the development of the Kaskida oil field , located in a complex geological structure called the Paleogene, and plans to continue with a second Paleogene development, the Tiber, later this year, CEO Murray Auchincloss said at a conference last month.
Chevron, for its part, strengthens its offshore presence with this collaboration, aligning itself with its vision of securing reliable energy sources in the North American market.
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Source and photo: BP
