BP and Chevron have announced a significant deepwater oil discovery in the US Gulf of Mexico, reinforcing their strategic commitment to the prolific region. The new find, dubbed the Far South prospect, was drilled in Green Canyon Block 584, situated in approximately 4092 feet (1247 meters) of water, not far from the Constellation field, which is already in production.
According to BP’s brief statement released Monday, the initial well and a sidetrack encountered oil-bearing, high-quality Miocene reservoirs, a promising geological formation known for its productivity. While full evaluation is still ongoing, early data indicates that the find holds potentially commercial volumes of hydrocarbons.
Andy Krieger, BP’s Senior Vice President for the Gulf of America and Canada, expressed optimism about the discovery, calling it a strong signal that the Gulf of Mexico remains a fertile ground for growth and exploration. He emphasized the strategic role the region plays in BP’s long-term plans, particularly in its goal to ramp up production to over 400,000 barrels of oil equivalent per day by 2030.
Ownership of the Far South discovery is split between BP (57.5%), who operates the asset, and Chevron (42.5%). Located a mere four miles (6.5 kilometers) north of the Constellation field, this new well could potentially be tied back to existing infrastructure, offering both economic and operational efficiencies.
This latest success underscores how strategic partnerships and technological capabilities continue to unlock new value from the deepwater assets of the Gulf — a region that remains pivotal to global energy supply.
SOURCE: Oilspot Suriname