Bp gives the green light to the sixth operations center, Kaskida, in the Gulf of Mexico

Bp has made a final investment decision on the project Kaskidain the American Gulf of Mexico. This demonstrates bp’s long-term commitment to providing safe, affordable and reliable energy.

Kaskida will be bp’s sixth center in the Gulf of Mexico and will have a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase. Production is expected to begin in 2029.

“The development of Kaskida will unlock the potential of the Paleogene in the Gulf of Mexico for bp, building on our decades of experience in the region,” said Gordon Birrell, Executive Vice President of Production and Operations at bp.

“Technology has played and will continue to play a critical role in driving Kaskida from discovery to production. Together with the other resources we have in the Paleogene, we hope it will prove to be a world-class development. “Today is a critical step in realizing its potential.”

Owned 100% by bp, the Kaskida field has discovered recoverable resources currently estimated at around 275 million barrels of oil equivalent from the initial phase. Additional wells could be drilled in future phases, subject to evaluation.

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The project fits fully into bp’s disciplined financial framework, reflecting its willingness to focus on value and profitability.

Located in the Keathley Canyon area, approximately 250 miles southwest of the coast of New Orleans, the Kaskida project unlocks the future development potential of 10 billion barrels of resources discovered in the Kaskida and Tiber catchments.

bp plans to leverage existing subsea platform and equipment designs that can be replicated in future projects to drive cost efficiencies in the construction, commissioning and operations of Kaskida.

“By employing an industry-led design solution, Kaskida will be easier to build and operate, improving safety and delivering greater value to bp,” said Andy Krieger, bp senior vice president for the Gulf of Mexico and Canada.

Technology has played and will continue to play a critical role in driving Kaskida from discovery to production

Kaskida is located in a prime location, with a stable tax regime and market access. It will also be bp’s first operation in the Gulf of Mexico that will produce from reservoirs that will require drilling rigs with a pressure rating of up to 20,000 pounds per square inch (20K).

Advances in 20K drilling technology, together with updated seismic imaging, are allowing bp to safely develop Kaskida and advance plans to develop other fields such as Tiber, which is expected to progress towards a final investment decision next anus.

Today’s announcement demonstrates the implementation of bp’s near-term priorities: advancing a key high-value growth project and supporting its drive to become a simpler, more focused and higher-value company.