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BP Invests in New $5 Billion U.S. Gulf Oil Project
BP has reached the final investment decision on its estimated $5 billion Tiber-Guadalupe project in the U.S. Gulf of Mexico, as part of its strategy to grow upstream production and boost its U.S. output to more than 1 million barrels of oil equivalent per day by 2030. Tiber-Guadalupe, 100%-owned by the UK-based supermajor, will be BP’s seventh operated oil and gas production hub in the Gulf of America, featuring a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day. Production from…