The UK oil and gas company BP has taken a final investment decision (FID) on the Kaskida project in the US Gulf of Mexico. The Kaskida project is located in the Keathley Canyon area at about 400 km off the coast of New Orleans (United States) and it would be BP’s sixth hub with a new floating production platform with a nameplate production capacity of 80 kb/d. Production is expected to start in 2029.
The Kaskida field is completely owned by BP and it is estimated to have 275 Mboe in recoverable resources from an initial phase, with the option of drilling additional wells in the future after further evaluation. The project opens the potential for the development of 10 Gboe of discovered resources in the area’s Paleogene.
BP produced about 300 kboe/d from the Gulf of Mexico in 2023, and has announced its interest to build capacity to produce up to 400 kboe/d with average expected volumes of about 350 kboe/d through the second half of the decade.