Gulf of America investments are strengthening America’s energy future — today and tomorrow
As part of bp’s strategy, we’re building capacity to safely produce more than 400,000 barrels of oil equivalent per day by the end of this decade — just one part of a larger plan to produce 1 million barrels of oil equivalent per day in the U.S. by 2030.
How will we do this?
Today, it’s about maximizing production from bp’s five existing offshore operated production platforms. There are currently plans for three major expansion projects at these facilities between now and the end of 2027. The first, Argos Southwest Extension, came online in August and is increasing production at our Argos platform, while the other two, both at bp’s Atlantis platform, are in progress. The company is also investing in new technologies, including artificial intelligence, or AI, tools, to help recover more oil from reservoirs that would not have been possible even just a few years ago.
Tomorrow, it’s about bringing online new deep water projects and investing in continued exploration for new prospects that will further grow U.S. energy supplies.
In 2024, bp announced plans to invest in a sixth platform, Kaskida, that will operate in the region. That development is expected to produce up to 80,000 barrels per day, with an anticipated start-up in 2029. And before the end of the year, we hope to announce plans for developing another major project: our seventh floating platform, which would produce oil from the Tiber and Guadalupe fields.
There have also been recent oil discoveries at bp’s Far South prospect, and we are actively pursuing other exploration opportunities.
As bp’s senior vice president for the Gulf of America and Canada, I’ve been in this business for more than 30 years, and I continue to marvel at the work our people do every day to produce the oil and gas that fuels the American economy and way of life. More than 1,300 employees at the company directly support the region.
So much of these employees’ stories — and that of the Gulf — are about innovation and technology. Whether it’s making a discovery six miles below the water’s surface, analyzing vast amounts of seismic data with the help of a supercomputer, or using drones to inspect equipment in the middle of the Gulf, the offshore oil and gas industry of today rivals space exploration in its complexity and sophistication.
The offshore industry of tomorrow — which bp is helping to lead — is just as awe-inspiring. AI tools are helping to plan maintenance jobs remotely with cloud-based virtual models of bp platforms, and machine learning is helping to detect and predict issues with offshore production equipment.
Recent passage of the federal tax bill will help ensure that the U.S. offshore industry continues to play a significant role in growing American energy production and for continued investment in America.
At bp, we commend Congress and the Administration for advancing the bill to final passage, providing more certainty and stability for offshore leasing, which is crucial to the future of U.S. energy supply. We’ll continue to work with the administration to support the delivery of American energy.
The Gulf of America has been a cornerstone of U.S. energy production for many years, and it remains a critical part of bp’s global strategy, both today and tomorrow. As we continue to innovate and invest in this region, we remain committed to enhancing energy security, driving technological advancements and contributing to the U.S. economy.
Dig deeper:
1. See all the ways bp is Investing in America
2. Learn more about bp’s Gulf of America business
