BP eyes 2025 FID for Tiber oil project in US Gulf of Mexico - executive [Reuters]
BP p.l.c. (BP)
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Source: Reuters
Gulf of Mexico, an executive said on Tuesday at an offshore energy conference in Houston. The company's U.S. Gulf of Mexico output last year averaged 300,000 barrels of oil and gas per day and it is targeting 400,000 barrels per day by 2030, Andy Krieger, BP's senior vice president of its Gulf of Mexico and Canada business, said at the Offshore Technology Conference. BP discovered Tiber in 2009 in an area with a resource capacity estimated to be 9 billion barrels of and oil and gas across five discoveries, and all have already been penetrated, they do not need exploration, Krieger said. The company first quarter earnings of $2.7 billion, missing forecasts, while the company extended its $1.75 billion share repurchase programme. Shares were off 1.4% on Tuesday. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up Reporting by Georgina McCartney Our Standards:
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