The name, chosen by the project team and an employee survey, is a reference to Odysseus’ loyal dog from “The Odyssey,” and a nod to the Mad Dog spar, an existing production facility operated by BP that is located about six nautical miles away from the Argos site.
TheMad Dog 2 project includes the Argos semisubmersible platform with the capacity to produce up to 140,000 gross b/d of crude oil through a subsea production system from up to 14 production wells and eight water injection wells.
“Selecting Argos as the name of our newest platform is an important milestone for the Mad Dog 2 project, which remains on track and on budget,” said Starlee Sykes, BP’s regional president for the Gulf of Mexico and Canada. “This project is key to delivering high-margin production from one of the largest fields in the Gulf of Mexico, and it will strengthen our position in the basin for years to come.”
The platform will be the first new BP-operated production facility in the Gulf of Mexico since 2008, when Thunder Horse came online. It will be the company’s fifth operated platform in the Gulf of Mexico and it will help extend the life of the super-giant Mad Dog oil field beyond 2050.
Originally estimated to cost more than $20 billion, BP worked with co-owners and contractors to simplify and standardize the platform’s design, reducing the overall project cost by about 60%. The final investment decision for the $9-billion project was approved in early 2017 by BP (60.5%) and co-owners BHP (23.9%) and Union Oil Company of California, an affiliate of Chevron U.S.A. Inc. (15.6%).
The hull and topsides of the Argos platform are currently under construction in South Korea. First oil is expected in late 2021.