BP finds oil on Isabela

BP and Noble Energy hit pay on Isabela in Mississippi Canyon block 562 in 6,500 ft (1,981 m) of water.

Offshore staff

HOUSTON --BP and Noble Energy hit pay on Isabela in Mississippi Canyon block 562 in 6,500 ft (1,981 m) of water. The discovery, drilled to 19,100 ft (5,822 m) TD, encountered hydrocarbons in two high-quality reservoirs, according to Noble.

The well has been temporarily suspended pending development plans. The most likely development scenario, says Noble, is a subsea tieback to BP-operatedNa Kika.

"Isabela is an important discovery for us, which could add production as early as late 2009," says Chuck Davidson, chairman, president, and CEO, Noble Energy.

"In addition, when combining the Isabela development with upcoming development projects at Lorien, Ticonderoga, Swordfish, and Raton/Redrock, Noble Energy's deepwater program is well positioned to contribute strong production for several years to come."

BP operates Isabela with a 66.67% working interest. Noble Energy holds the remaining 33.33%.

6/7/2007

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