In a significant move demonstrating its long-term commitment to secure, affordable, and reliable energy, BP has taken a final investment decision on the Kaskida project, located in the US Gulf of Mexico. This project will be BP’s sixth hub in the region and is set to feature a new floating production platform, capable of producing 80,000 barrels of crude oil per day from six wells in the initial phase, with production expected to commence in 2029.
“Developing Kaskida will unlock the potential of the Paleogene in the Gulf of Mexico for BP, building on our decades of experience in the region,” said Gordon Birrell, BP’s Executive Vice President of Production and Operations. The Kaskida field, wholly owned by BP, has discovered recoverable resources currently estimated at around 275 million barrels of oil equivalent from the initial phase, with potential for further development.
Located in the Keathley Canyon area, approximately 250 miles southwest off the coast of New Orleans, the Kaskida project aims to unlock the potential future development of 10 billion barrels of discovered resources in place across the Kaskida and Tiber catchment areas. BP plans to leverage existing platform and subsea equipment designs to drive cost efficiencies across Kaskida’s construction, commissioning, and operations.
“Kaskida will be simpler to construct and operate, enhancing safety and delivering greater value for BP,” said Andy Krieger, BP’s Senior Vice President for the Gulf of Mexico and Canada. The project will be BP’s first development in the Gulf of Mexico to utilize equipment with a pressure rating of up to 20,000 pounds per square inch (20K).
BP’s decision reflects its strategic focus on high-value growth projects and its drive to become a simpler, more focused, and higher value company. The company is also advancing plans for other fields in the region, such as Tiber, which is expected to reach a final investment decision next year.
