BP's Thunder Horse South Expansion Launches Ahead of Schedule, Under Budget
January 23 2017 - 10:33AM
Dow Jones News
By Razak Musah Baba
LONDON--BP PLC (BP.LN) has launched the Thunder Horse South
Expansion project in the deepwater Gulf of Mexico 11 months ahead
of schedule and $150 million under budget.
The energy giant said Monday the project was expected to boost
production at the facility by an estimated 50,000 gross barrels of
oil equivalent per day.
BP shares at 1445 GMT were down 8 pence, or 1.5%, at 491 pence,
valuing the company at 95.6 billion U.K. pounds ($118.3
billion).
The Thunder Horse field was found in 1999 and is one of BP's
largest discoveries in the Gulf of Mexico.
Thunder Horse is operated by BP with a 75% working interest.
Exxon Mobil Corp is a partner with a 25% stake.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
January 23, 2017 10:18 ET (15:18 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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