BP has announced its plans to develop its US$5bn Tiber-Guadalupe offshore drilling project in the US Gulf of Mexico. The fields are located about 300 miles (480 km) south-west of New Orleans (Louisiana) and have about 350 mboe in recoverable resources. The project includes a floating platform with the capacity to produce 80 kb/d and is expected to start oil and gas production in 2030.
The Tiber-Guadalupe represents BP’s second project in the US Gulf of Mexico in two years, where it produced 341 kboe/d in 2024 from five platforms Argos, Atlantis, Mad Dog, Na Kika and Thunder Horse; BP also holds stakes in four non-operated hubs, namely Great White, Mars, Olympus and Ursa, and aims to reach a production target of at least 400 kboe/d by 2030.
In February 2025, BP announced a strategic shift to refocus on its core oil and gas operations, shifting away from investments on renewables. The company seeks to increase its US upstream output to more than 1 mb/d by 2030, representing almost half of its global target for the same year (up to 2.5 mb/d).