popular articles

BP discovers new oil field 190 km off the coast of Louisiana

British group BP has announced a new oil discovery in the deep waters of the Gulf of Mexico, strengthening its investment strategy in hydrocarbons with the aim of increasing production by 2030.

Please share:

British energy group BP has revealed it has identified a new oil field in the deep waters of the Gulf of Mexico, approximately 190 kilometres off the coast of Louisiana. This announcement comes as the company continues a strategic shift back towards fossil fuels, following a partial abandonment of its carbon reduction targets. The company stated that this discovery is part of a global drilling campaign aimed at boosting its production capacity by 2030.

A strategic pivot back to hydrocarbons

BP indicated that the new discovery is part of a broader plan involving the drilling of around 40 wells over the next three years, with up to 15 expected to be drilled this year. The group plans to increase its daily production to 2.5 million barrels of oil equivalent by 2030, with more than 400,000 barrels expected to come from the Gulf of Mexico alone. Andy Krieger, Vice President of BP, stated that operations in the region remain a strategic pillar for the company.

The Gulf of Mexico is a historically significant area for BP, though also marked by the Deepwater Horizon platform disaster in April 2010. That explosion, which occurred on a BP-operated installation, resulted in the most severe oil spill in United States history, causing the death of 11 employees and costing the company tens of billions of dollars in damages and compensation.

Strengthening deepwater exploration

In its statement, BP emphasised that this development in the Gulf of Mexico demonstrates the group’s intention to reinforce its presence in high-value extraction zones. The exact dimensions of the site were not disclosed, but it is considered indicative of the group’s broader investment intensification, particularly in key offshore regions.

The announcement also comes amid a shift in official naming, following a directive from United States President Donald Trump. The area is now designated the “American Gulf,” with the administration underlining its central role in national energy supply, as well as its significance for fishing and tourism industries.

Register free of charge for uninterrupted access.

Publicite

Recently published in

Indonesia Energy announces a ramp-up in its oil assets with a 60% increase in proven reserves and confirms a strategic shift toward gradual energy diversification.
SK Innovation, through its subsidiary SK Earthon, is accelerating investments in offshore oil exploration projects in Southeast Asia, enhancing South Korea's energy security through a regional strategy focused on operational efficiency.
SK Innovation, through its subsidiary SK Earthon, is accelerating investments in offshore oil exploration projects in Southeast Asia, enhancing South Korea's energy security through a regional strategy focused on operational efficiency.
Production at the Mero-4 field began on May 24 using a 180,000 barrels/day FPSO, the result of international cooperation among six partners operating offshore Brazil.
Production at the Mero-4 field began on May 24 using a 180,000 barrels/day FPSO, the result of international cooperation among six partners operating offshore Brazil.
As Western nations debate an adjustment to the price ceiling on Russian oil, Moscow firmly rejects these measures as market-distorting, citing a lack of significant impact on its current exports.
As Western nations debate an adjustment to the price ceiling on Russian oil, Moscow firmly rejects these measures as market-distorting, citing a lack of significant impact on its current exports.
Carlo McLeod joins the new presidential unit dedicated to hydrocarbons as Namibia centralises oil sector governance under the head of state.
Valeura Energy has completed eight wells on Block B5/27 in the Gulf of Thailand, securing stable output and preparing a new investment phase at the Nong Yao field.
Valeura Energy has completed eight wells on Block B5/27 in the Gulf of Thailand, securing stable output and preparing a new investment phase at the Nong Yao field.
Shell recognised Mecpec Trading for its 2023 fuel sales growth and contribution to Singapore's distribution network, with a 23% increase in total volume delivered.
Shell recognised Mecpec Trading for its 2023 fuel sales growth and contribution to Singapore's distribution network, with a 23% increase in total volume delivered.
Petroecuador suspended activities at its Esmeraldas refinery following a fire, with no injuries reported, while an investigation is under way to assess the damage.
Petroecuador suspended activities at its Esmeraldas refinery following a fire, with no injuries reported, while an investigation is under way to assess the damage.
Petróleos Mexicanos (Pemex) plans to eliminate over 3,000 non-union positions as part of a comprehensive restructuring initiative aimed at significantly reducing operational costs.
TotalEnergies has started production at Mero-4, raising the total capacity of the Mero field to 770,000 barrels per day via five offshore units off the coast of Brazil.
TotalEnergies has started production at Mero-4, raising the total capacity of the Mero field to 770,000 barrels per day via five offshore units off the coast of Brazil.
Falling oil prices strain shareholder returns as supermajors weigh high dividends against cash flow stability.
Falling oil prices strain shareholder returns as supermajors weigh high dividends against cash flow stability.
Economically fragile Venezuela awaits a critical U.S. decision on renewing oil licenses granted to multinationals, a crucial issue that could significantly affect its recent economic recovery and financial stability.
Economically fragile Venezuela awaits a critical U.S. decision on renewing oil licenses granted to multinationals, a crucial issue that could significantly affect its recent economic recovery and financial stability.
Nigerien authorities instruct the local arm of China National Petroleum Corporation to repatriate expatriates who have held positions for over four years, citing violations of local content requirements and economic sovereignty.
German asset manager Union Investment has excluded TotalEnergies from its sustainable funds over allegations of human rights violations linked to the EACOP oil project in Uganda, further complicating its international financing.
German asset manager Union Investment has excluded TotalEnergies from its sustainable funds over allegations of human rights violations linked to the EACOP oil project in Uganda, further complicating its international financing.
The National Oil Corporation suspended crude transport from the Hamada fields following a leak detected south of Zawiya, 45 kilometres from Tripoli.
The National Oil Corporation suspended crude transport from the Hamada fields following a leak detected south of Zawiya, 45 kilometres from Tripoli.
Iraq has signed a deal with China’s Geo-Jade and Hilal al-Basra to develop an integrated project combining oil, refining and electricity in the country’s south.
Iraq has signed a deal with China’s Geo-Jade and Hilal al-Basra to develop an integrated project combining oil, refining and electricity in the country’s south.
US commercial crude oil inventories rose by 1.3 million barrels last week, defying market expectations, according to data published by the US Energy Information Administration.
As Venezuelan elections approach concerning the oil-rich disputed Essequibo territory, Guyana emphasizes increased vigilance, citing risks to its energy and territorial sovereignty amid Caracas' claims. ##
As Venezuelan elections approach concerning the oil-rich disputed Essequibo territory, Guyana emphasizes increased vigilance, citing risks to its energy and territorial sovereignty amid Caracas' claims. ##
GATE Energy and HD Hyundai Heavy Industries have signed a memorandum of understanding to jointly pursue international offshore contracts, combining engineering, construction and commissioning capabilities.
GATE Energy and HD Hyundai Heavy Industries have signed a memorandum of understanding to jointly pursue international offshore contracts, combining engineering, construction and commissioning capabilities.
BW Offshore has handed over the operations of the FPSO BW Adolo to BW Energy Gabon while retaining ownership and the vessel lease under previously agreed terms.
BW Offshore has handed over the operations of the FPSO BW Adolo to BW Energy Gabon while retaining ownership and the vessel lease under previously agreed terms.
Petrobras reaches a crucial milestone for exploring the Foz do Amazonas basin, yet stringent conditions for upcoming permits raise questions about future operations in this strategic region.
PermRock Royalty Trust will pay a monthly distribution of USD371,192.79 on June 13, based on oil and gas production from March 2025 and calculated at USD0.030511 per trust unit.
PermRock Royalty Trust will pay a monthly distribution of USD371,192.79 on June 13, based on oil and gas production from March 2025 and calculated at USD0.030511 per trust unit.
Mazoon Mining, a subsidiary of Minerals Development Oman (MDO), has secured USD 270 million in financing and signed key contracts for Oman’s largest copper concentrate project, aimed at supporting the country’s mining sector.
Mazoon Mining, a subsidiary of Minerals Development Oman (MDO), has secured USD 270 million in financing and signed key contracts for Oman’s largest copper concentrate project, aimed at supporting the country’s mining sector.
Côte d'Ivoire signed an agreement with Yaatra Ventures to build a 170,000 barrels/day oil refinery, a $5.1 billion investment aimed at boosting national refining capacity.
Côte d'Ivoire signed an agreement with Yaatra Ventures to build a 170,000 barrels/day oil refinery, a $5.1 billion investment aimed at boosting national refining capacity.

Advertising