BP starts production at Horn Mountain

BP has begun production from a single well at its Horn Mountain Spar development in the deepwater Gulf of Mexico. Located in 5,400 ft of water, Horn Mountain straddles Mississippi Canyon blocks 126 and 127, 100 mi southeast of New Orleans.

BP has begun production from a single well at its Horn Mountain Spar development in the deepwater Gulf of Mexico. Located in 5,400 ft of water, Horn Mountain straddles Mississippi Canyon blocks 126 and 127, 100 mi southeast of New Orleans. Seven additional production wells are to be completed, boosting output to a peak rate of 65,000 b/d of oil and 68 MMcf/d of gas in 2003. The production facility is designed to accommodate additional incremental production from new discoveries in the area.
Recoverable reserves at the $600-million Horn Mountain project are estimated at 150 MMboe. Horn Mountain is the world's deepest free-floating dry tree system, and is BP's second operated floating production facility in the Gulf of Mexico. The project went from discovery to production in under three and a half years.
BP holds a 66.7% operating stake in Horn Mountain, partnered with Occidental Petroleum, which holds the remaining 33.3%. PFC modeling indicates that, for BP, Horn Mountain offers a relatively modest contribution to its overall deepwater GOM portfolio. For Oxy, on the other hand, Horn Mountain represents the company's initial production from the deepwater GOM and the entirety of its present deepwater GOM development portfolio.
12/5/02

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