BP strikes oil in deepwater GoM

BP has made an oil discovery at the Freedom prospect in the deepwater Gulf of Mexico.

Offshore staff

HOUSTON -- BP has made an oil discovery at the Freedom prospect in the deepwater Gulf of Mexico.

The well, located in Mississippi Canyon block 948, approximately 70 mi (113 km) southeast of the Louisiana coast, is in 6,100 ft (1,860 m) of water. The Freedom well was drilled to a total depth of approximately 29,280 ft (8,927 m) and encountered greater than 550 net ft (168 m) of hydrocarbon-bearing sands in middle and lower miocene reservoirs. Appraisal will be required to determine the size and commerciality of the discovery, the company says.

"The Freedom well is our third discovery in this part of the deepwater GoM following our Tubular Bells and Kodiak discoveries," says Andy Inglis, BP chief executive for exploration and production.

"This discovery further strengthens BP's resource base and portfolio of potential development projects in the GoM. We believe that Freedom straddles Mississippi Canyon block 948 and Mississippi Canyon block 992 and we look forward to working with our various partners towards efficient development of these discovered resources."

10/14/2008

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