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BP starts production at Atlantis Drill Center 1 expansion project
Yahoo Finance· 2025-12-11 15:39
Core Insights - BP has commenced production at the Atlantis Drill Center 1 expansion project in the Gulf of Mexico, two months ahead of schedule, expected to add approximately 15,000 barrels of oil equivalent per day (boepd) to the Atlantis platform at gross peak annualized average production [1][2] - This expansion is BP's seventh major project to start operations in 2023, with five of these projects beginning earlier than planned [2] - The project aims to support BP's goal of increasing US production to around one million boepd by 2030, demonstrating the efficiency and dedication of its project teams [3][4] Production Capacity and Future Plans - The Atlantis field, discovered in 1998, has a gross production capacity of up to 200,000 barrels of oil per day, and the expansion adds two new wells to the existing subsea hub [2][4] - BP plans to increase its production capacity to over 400,000 boepd from the US offshore region by the end of the decade, with further expansions planned, including the Atlantis Major Facility Expansion in 2027 [5] - The early delivery of the Atlantis Drill Center 1 expansion is attributed to existing subsea inventory, improved drilling techniques, and streamlined execution planning [4] Strategic Importance - The expansion at Atlantis underscores BP's commitment to maximizing production from existing platforms in the Gulf of Mexico, enhancing US offshore energy production safely and efficiently [6] - BP emphasizes the critical role of the Gulf of Mexico in delivering secure and reliable energy, reinforcing its investment strategy in the region [6]