Gulf of Mexico
Our Gulf of Mexico business is a crucial source of US energy, provides high-quality jobs and investment for the Gulf Coast region, and is driving the transformation of our business toward an integrated energy company.
In numbers
- Building capacity to produce 400,000 boe/d
- 1,300 employees working across the business
- $7 billion of planned investments from 2022 to 2025
Between 2022 to 2025, we plan to invest $7 billion in our Gulf of Mexico business – where we have some of the highest-value, lowest emissions barrels in our global portfolio.
Our resilient hydrocarbons business is a key pillar in bp’s transformation into an integrated energy company. “Resilient” means hydrocarbons that can withstand volatility in the market and are connected to nearby, preexisting infrastructure.
We are one of the region’s largest oil producers, and we’re continuing investment and exploration around five operated hubs: Atlantis, Mad Dog, Na Kika, Thunder Horse and Argos.
With more than three decades of experience in the region, bp’s looking to our next wave of growth – with major projects already underway. We’re building capacity to produce above 400,000 barrels of oil equivalent per day (boe/d), and we expect volumes to average around 350,000 boe/d through the second half of the decade.
In 2023, we brought online Argos, a new semi-submersible floating production platform and the centerpiece of bp’s $9 billion Mad Dog 2 project. Argos provides an additional source of crude supply at a time of heightened concerns about energy security and affordability.
In July 2024, we took a final investment decision on the Kaskida project, which will be our sixth operated hub in the region and feature a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day. Production is expected to start in 2029. The Kaskida project unlocks the potential future development of 10 billion barrels of discovered resources in place across the Kaskida and Tiber catchment areas.
