Technology enables BP to discover 1.4B barrels in Gulf of Mexico
BP made a massive 1 billion-barrel discovery at its Thunder Horse field plus a 400 million-barrel discovery at its Atlantis field, both off the tip of Louisiana in the Gulf of Mexico.
Executives are crediting their investment in advanced seismic technology and data processing for speeding up the company’s ability to confirm the discoveries at Atlantis and Thunder Horse.
BP says what once would have taken a year to analyze data, now takes just weeks.
Technology advances have enabled BP to increase Gulf of Mexico production from 200,000 BBL/day 5 years ago, to 300,000 BBL/day today, to 400,000 BBL/day by 2025.
– Mike Reed
CNBC Source Article: BP just discovered a billion barrels of oil in the Gulf of Mexico