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    DeepOcean charters offshore support vessel to strengthen customers oil and gas, renewables assets

    DeepOcean charters offshore support vessel to strengthen customers oil and gas, renewables assets

    Carbon+Intel - DNV and energy majors launch JIP to develop low-pressure CO2 transport by ships

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    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

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    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

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    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

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    bp and Oman form strategic partnership to progress significant renewable energy and hydrogen development

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    CNOOC Limited Announces Caofeidian 11-1/11-6 Oilfield Comprehensive Adjustment Project Commences Production

    Vital Energy acquires oil production assets in Permian basin for $128 million

    INPEX sells Eagle Ford tight oil production and development assets to Repsol

    Matador Resources acquires Delaware basin assets for $1.6 billion

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    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

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BHP Billiton approves $2.2 billion for US Mad Dog oil project

Yuvraj_ong by Yuvraj_ong
February 8, 2017
in America, Press Releases, Production, Upstream
0

BHP Billiton announced that the Board has approved expenditure of US$2.2 billion for its share of the development of the Mad Dog Phase 2 project in the Gulf of Mexico.                                                                                             

BHP Billiton holds a 23.9 per cent participating interest in the Mad Dog field. BP, the operator, holds a 60.5 per cent participating interest, and Union Oil Company of California, an affiliate of Chevron U.S.A. Inc., holds the remaining 15.6 per cent participating interest. During the fourth quarter of 2016, BP sanctioned the Mad Dog Phase 2 project.

Mad Dog Phase 2, located in the Green Canyon area in the Deepwater Gulf of Mexico, is a southern and southwestern extension of the existing Mad Dog field. The project includes a new floating production facility with the capacity to produce up to 140,000 gross barrels of crude oil per day from up to 14 production wells. Production is expected to begin in the 2022 financial year.

Steve Pastor, BHP Billiton President Operations Petroleum, said “Mad Dog Phase 2 is one of the largest, discovered and undeveloped resources in the Gulf of Mexico, one of BHP Billiton’s preferred conventional deep-water basins. It offers an attractive investment opportunity for BHP Billiton and aligns with our strategic objective to build our conventional portfolio through the development of large, long-life, high-quality resources.”

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