BP drills oil discovery in the Gulf of Mexico

BP says it has drilled a “giant” oil discovery on the Tiber prospect in Keathley Canyon block 102 in the deepwater Gulf of Mexico using Transocean’s semisub Deepwater Horizon.

Offshore staff

HOUSTON -- BP says it has drilled a “giant” oil discovery on the Tiber prospect in Keathley Canyon block 102 in the deepwater Gulf of Mexico Transocean’s using semisub Deepwater Horizon. The well, in 4,132 ft (1,259 m) of water, struck oil in multiple lower tertiary reservoirs, BP reports. It was drilled to a total depth of approximately 35,055 ft (10,685 m), making it the deepest well ever drilled by the oil and gas industry, the company says.

BP says it is too early to estimate the discovery’s resource potential, but the company believes it is in the same class as its other major discoveries in the GoM, including Kaskida, which is estimated to have 3 Bboe in place.

“Tiber represents BP's second material discovery in the emerging Lower Tertiary play in the Gulf of Mexico, following our earlier Kaskida discovery in Keathley Canyon block 102,” says Andy Inglis, BP’s chief executive of exploration and production. “These material discoveries together with our industry leading acreage position support the continuing growth of our deepwater Gulf of Mexico business into the second half of the next decade.”

BP plans drill an appraisal well on Tiber to determine the size and commerciality of the discovery.

BP operates Tiber with a 62% working interest. Co-owners are Petrobras (20%) and ConocoPhillips (18%).

09/02/2009

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