BP eyes Thunder Horse oil production ramp up in Gulf of Mexico this year (NYSE:BP)

BP (NYSE:BP) expects to double crude oil manufacturing from its Thunder Horse undertaking within the U.S. Gulf of Mexico and launch its newest manufacturing platform by the top of this 12 months, an organization govt stated on Monday on the Offshore Expertise Convention in Houston, as reported by Reuters.

The corporate expects to supply ~200K boe/day by year-end 2022 from the present 100K boe/day at Thunder Horse, based on Starlee Sykes, BP’s Senior VP for the Gulf of Mexico and Canada.

BP (BP) is also making ready to begin its fifth operated platform this 12 months – Argos – the centerpiece of its $9B Mad Canine 2 undertaking within the Gulf, however Sykes declined to specify through which quarter manufacturing would begin.

“Extra Gulf of Mexico oil and gasoline helps enhance emissions globally,” Sykes stated, based on Reuters.

Final September, BP (BP) introduced the start-up of Thunder Horse South’s section 2 growth and stated a complete of eight wells could be drilled to extend oil and gasoline manufacturing to ~400K boe/day by the mid-2020s.

BP is scheduled to announce Q1 earnings outcomes earlier than the open on Might 3.