view in one page and print

http://finance.yahoo.com/news/article/107659/bp-makes-giant-oil-find-in-gulf-of-mexico

by Tom Bergin

Tuesday, September 1, 2009 provided by

 

 

LONDON (Reuters) - Oil major BP Plc said it has made an oil discovery in the Gulf of Mexico, which analysts believe could contain over 1 billion barrels of recoverable reserves, reaffirming the Gulf's strategic importance to the industry.

BP said in a statement on Wednesday that it had made the "giant" find at its Tiber Prospect in the Keathley Canyon block 102, by drilling one of the deepest wells ever sunk by the industry.

Further appraisal will be required to ascertain the size of volumes of oil present, but a spokesman said the find should be bigger than its Kaskida discovery which has over 3 billion barrels of oil in place.

Estimates of recoverable reserves range from around 20 percent of oil in place.

(To view full story, open the link above.)

 

 

(Giant oil field discovered in Gulf of Mexico, USA)

________________________________________________________________________________________________________

 

Leave a comment

(if you having troubles, try posting your comment on this page or send an email to chronicle @ itbhuglobal.org)

Name
Email Address
URL
Remember personal info?
Comments
(You may use HTML tags for style)