BP reported a “giant” discovery at the Tiber Prospect in the Gulf of Mexico that may contain more than 3 billion barrels, after drilling the world’s deepest exploration well. The well is about 250 miles southeast of Houston, the London-based company said Wednesday. It was drilled to more than 35,000 feet, greater than the height of Mount Everest.
The latest discovery will help BP, already the biggest producer in the Gulf of Mexico, boost output in the region by 50 percent to 600,000 barrels of oil equivalent a day after 2020. It’s equal to about a year’s output from Saudi Arabia, the biggest exporter in the Organization of the Petroleum Exporting Countries, as well as coming close to matching the U.K.’s entire proven reserves. Bloomberg News; Associated Press photo
