BP has taken a final investment decision (FID) on its 100%-owned Kaskida development located in the U.S. Gulf of Mexico (GoM).
“This FID marks a key first step in unlocking a material discovered resource base in the Kaskida and Tiber catchment areas of around 10 billion barrels in place, with material exploration potential,” BP CEO Murray Auchincloss said July 30 during the company’s second quarter 2024 webcast.
“Kaskida will be our sixth operated hub in the Gulf of Mexico, with planned capacity of 80,000 barrels of oil per day. The initial phase of six wells is expected to start producing later this decade, with an estimated 275 million barrels of oil equivalent of discovered recoverable resources at a total development cost of less than $5 billion,” Auchincloss said.