bp has approved the final investment decision for the Kaskida project in the U.S. Gulf of Mexico, reinforcing its commitment to delivering secure, affordable, and reliable energy.
Kaskida will be bp’s sixth hub in the Gulf, featuring a new floating production platform with an initial capacity of 80,000 barrels of crude oil per day from six wells. Production is slated to begin in 2029.
“Developing Kaskida will unlock the Paleogene’s potential for bp in the Gulf of Mexico, building on our decades of experience in the region,” said Gordon Birrell, bp’s executive vice president of production and operations.
“Technology has played—and will continue to play—a pivotal role in moving Kaskida from discovery to production. Along with other resources in the Paleogene, it is poised to become a world-class development. Today’s decision is a crucial step in realizing that potential.”
The Kaskida field, wholly owned by bp, has estimated recoverable resources of around 275 million barrels of oil equivalent in the initial phase, with potential for further development subject to additional evaluation.
This project aligns with bp’s disciplined financial framework, emphasizing value and returns.
Located in the Keathley Canyon area, approximately 250 miles southwest of New Orleans, the Kaskida project could pave the way for future development of up to 10 billion barrels of discovered resources across the Kaskida and Tiber areas.
bp plans to use existing platform and subsea designs to improve cost efficiency in Kaskida’s construction, commissioning, and operations.
“By adopting an industry-led design, Kaskida will be simpler to build 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.
Kaskida is strategically located, benefiting from a stable fiscal environment and market access. It will also be bp’s first Gulf of Mexico development to produce from reservoirs requiring well equipment rated for pressures up to 20,000 pounds per square inch (20K).
Advancements in 20K drilling technology and updated seismic imaging are enabling bp to safely develop Kaskida and advance plans for other fields like Tiber, which is expected to reach a final investment decision next year.
