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BP sanctions Mad Dog Phase 2 development
BP has sanctioned the Mad Dog Phase 2 project in the US Gulf of Mexico. The project will include a new floating production platform with the capacity to produce up to 140,000 b/d of oil from up to 14 production wells. First production is expected in late 2021. BP (operator) holds a 60.5% working interest, partnered by BHP Billiton (23.9%) and Union Oil Company of California, an affiliate of Chevron (15.6%).
BP plans to add approximately 800,000 net boe/d of new production globally from projects starting up between 2016 and 2020. The company recently agreed to to buy from Eni a 10% interest in the Shorouk concession offshore Egypt, which contains the super-giant Zohr gas field, for $375mn.
News Item details
Journal title: Petroleum Review
Subjects: Banking, finance and investment, Economics, business and commerce, Oil and gas, Oil production, Oil wells
