Core Viewpoint - BP Plc has approved a $5 billion oil and gas project in the Gulf of America, emphasizing its commitment to offshore growth and energy security for the future [1][3]. Group 1: Project Details - The Tiber-Guadalupe development is set to begin production in 2030, with a capacity of 80,000 barrels of crude oil per day [1]. - This project will be BP's seventh operated hub in the Gulf and combines six wells from the Tiber field with two tiebacks from the Guadalupe field [2]. - The first phase of the development is projected to recover approximately 350 million barrels of oil equivalent, with potential for further drilling [3]. Group 2: Strategic Importance - The new hub is expected to increase Gulf output to over 400,000 barrels of oil equivalent per day by 2030, building on BP's operational experience [4]. - The project utilizes advanced technology designed to safely manage extreme pressures of up to 20,000 pounds per square inch [4]. Group 3: Financial Outlook - BP plans to launch eight to ten major projects globally between 2028 and 2030, with an investment of about $10 billion to unlock Paleogene resources in the Gulf [5]. - The company is balancing growth with shareholder returns, having raised its dividend and announced a $750 million share buyback in August [5].