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BP PLC on Thursday announced a new platform in the US Gulf of Mexico aimed at unlocking billions of barrels of discovered resources in Gulf of Mexico Palogene. The London-based oil major said Kaskida will be its sixth hub in the Gulf of Mexico, with a new floating production platform with a capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase. BP anticipates production to start in 2029. ‘By employing an industry-led design solution, Kaskida will be simpler to construct and simpler to operate, enhancing safety and delivering greater value for BP,’ said Andy Krieger, BP’s senior vice president, Gulf of Mexico & Canada. The company said the hub unlocks potential for the development of 10 billion barrels of discovered resources in place of Gulf of Mexico Palogene. BP shares were 0.7% higher at 462.05 pence each in London on Thursday around midday. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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