Oct. 18–BP said Thursday it started up its expansion of its massive Thunder Horse field in the Gulf of Mexico a few months early.
The Northwest Expansion project in the Thunder Horse is expected to increase production in the field by 30,000 barrels a day, bringing total production to more than 200,000 barrels of oil equivalent daily.
The expansion is a so-called tieback project that’s currently popular in the Gulf of Mexico because it connects new wells to existing platforms using subsea umbilicals and pipelines. The expansions are much cheaper than building new multibillion-dollar platforms. The project wasn’t supposed to come online until early 2019.
“Our business in the Gulf of Mexico demonstrates our upstream strategy in action. Leveraging our world-class position and facilities, we are bringing new barrels online rapidly and efficiently, and uncovering more opportunities nearby,” said Bernard Looney, BP’s upstream chief executive. “We are focused on growing value, and these projects in the Gulf are competitive with any opportunities we have worldwide.”
The Thunder Horse platform first came online 10 years ago with the most recent South Expansion completed early last year.
BP operates and owns a 75 percent stake in the project, while Exxon Mobil holds the remaining 25 percent.
Even though these tieback projects are the most popular in the Gulf, BP is still building one major new Gulf platform. The $9 billion Mad Dog Phase 2 platform project is under construction.
(c)2018 the Houston Chronicle
Visit the Houston Chronicle at www.chron.com
Distributed by Tribune Content Agency, LLC.