BP Unlocks One Billion Barrels In Gulf Of Mexico With New Tech - OilPrice.com
Oilprice.com - Thu 10 Jan 18:14 GMT

BP Unlocks One Billion Barrels In Gulf Of Mexico With New Tech - OilPrice.com

Making use of a new technology called Wolfspar, British Petroleum has now identified an additional 1 billion barrels of oil in place at its Thunder Horse field

  BP’s two key pillars of growth are raising production from fields close to existing hubs, and using advanced seismic technology and analytics to better identify the resources at its oil fields in the Gulf of Mexico.

  The tech acquires low-frequency seismic signals and could help BP to estimate how much oil there is still left in the Atlantis, Thunder Horse, and Mad Dog developments, BP executives say.

  Thanks to advanced proprietary seismic imaging and reservoir characteristics analysis, BP has now identified an additional 1 billion barrels of oil in place at its Thunder Horse field, and an additional 400 million barrels of oil in place at the Atlantis field, the UK supermajor said this week.

  Related: Oil Posts Longest Rally In 17 Months While it has identified more than a billion barrels of oil at its oil fields, BP also approved the expansion of the Atlantis field which it operates, with the US$1.3-billion Atlantis Phase 3 development as part of its strategy to grow advantaged oil production through its existing production facilities in the Gulf.

  Related: Why 2019 Will Be A Record Breaking Year For LNG It’s not only BP that is actively pursuing additional oil developments in the Gulf of Mexico.