HOUSTON – BP has sanctioned development of the Thunder Horse South Expansion Phase 2 project in the deepwater Gulf of Mexico.
The project is expected to add an estimated 50,000 gross boe/d at its peak at the existing Thunder Horse platform. First oil is expected in 2021.
This major project will add two new subsea production units about 2 mi (3 km) to the south of the existing Thunder Horse platform with two new production wells in the near term. Eventually eight wells will be drilled as part of the overall development.
“This latest expansion at Thunder Horse is another example of how the Gulf of Mexico is leading the way in advantaged oil growth for BP, unlocking significant value and safely growing a high-margin business,” said Starlee Sykes, BP’s regional president for the Gulf of Mexico and Canada. “It also highlights our continued growth and momentum in a region that will remain a key part of BP’s global portfolio for years to come.”
Thunder Horse South Expansion Phase 2 follows several other major expansion projects at the offshore platform in recent years. An earlier South Expansion project at Thunder Horse started up ahead of schedule and under budget in early 2017 and raised output at the facility by an additional 50,000 boe/d. Last October, Thunder Horse Northwest Expansion project came online and is expected to boost production by an estimated 30,000 boe/d. And in 2016, BP started up a major water injection project at Thunder Horse to enhance oil production at the field.
Earlier this year, the company announced that recent breakthroughs in advanced seismic imaging had identified an additional 1 Bbbl of oil in place at the Thunder Horse field, highlighting the potential for further development opportunities in the future.
Over the last five years, BP’s net production in the Gulf of Mexico has increased by more than 60%, rising from less than 200,000 boe/d in 2013 to more than 300,000 boe/d today. The company said it anticipates its production in the region growing to around 400,000 boe/d through the middle of the next decade.