BP makes deepwater discovery in the Gulf of Mexico

BP has made a discovery with exploration well Kodiak-1 on Mississippi Canyon block 771 in 1,500 m (5000 ft) of water.

Offshore staff

HOUSTON -- BP has made a discovery with exploration well Kodiak-1 on Mississippi Canyon block 771 in 1,500 m (5000 ft) of water. The well was drilled to 9,500 m (31,150 ft) TD and encountered over 150 m (500 ft) of hydrocarbon-bearing sands in Middle and Lower Miocene reservoirs. The well was deviated with a horizontal step-out of 7,400 ft (2,250 m).

Further appraisal drilling is planned to determine the size and commercial extent of the discovery.

"This discovery, in the vicinity of our 2003 Tubular Bells discovery, further strengthens BP's resource base in the Gulf of Mexico and has the potential to become an important new source of production for the USA," says Andy Inglis, BP's chief executive of exploration and production.

BP operates Kodiak with a 63.75% working interest. Partners include Eni with a 25% working interest and Marubeni Oil & Gas (USA) Inc. with an 11.25% working interest.

04/04/2008

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