Atlantis Phase 3 FID announced
BP (stock ticker: BP) has big plans for the Gulf of Mexico, as the company announced several new developments in the GOM today.

BP has approved Phase 3 development at the Atlantis field, authorizing a new subsea production system that will be tied into the existing platform. The company will drill eight new wells targeting the eastern portion of the field. BP estimates this program will come online in 2020 and will boost production by 38 MBOEPD gross at its peak. BP’s share of the cost will be $1.3 billion, and with a 56% interest is the operator. BHP holds the remaining 44% and has not yet made FID, though it is expected to do so early this year.

Atlantis Platform Source: BP
New seismic reveals 1.4 bi...

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