bp has announced a potential start date for its Tiber offshore oil project in the US Gulf of Mexico.
According to Andy Krieger, BP's senior vice-president of its Gulf of Mexico and Canada operations, the oil and gas major is contemplating a decision to proceed with its Tiber offshore oil project in the area by next year.
It is aiming to increase its production to 400,000 boed by 2030, up from 300,000 boed in 2023, Reuters reported.
The Tiber project, discovered in 2009, is part of bp's strategy to expand its capacity in the region. The company also plans to make a final investment decision on the offshore Kaskida project, located nearby, this year.
bp views the Gulf of Mexico as a crucial and environmentally strategic investment due to its low carbon intensity compared to other regions globally.
bp eyes oil production date in US Gulf
