BP announces new Gulf of Mexico discovery

BP reports that is has made a significant oil discovery at its Gila prospect, which it co-owns with ConocoPhillips, in the deepwater US Gulf of Mexico. This is BP’s third discovery in recent years in the emerging Paleogene trend – Kaskida was announced in 2006 and Tiber in 2009. The Gila discovery was made by an exploration well on Keathley Canyon block 93, in approximately 4,900 feet of water.