US Seeks Changes to BP’s Proposed New Gulf Oil Project (1)

The US Interior Department is seeking unspecified modifications to BP Plc’s plan to pump oil from the Kaskida discovery in the Gulf of Mexico, according to the an update posted on the agency’s Bureau of Ocean Energy Management website.

• BP’s deepwater Kaskida project, which is key to Chief Executive Officer Murray Auchincloss’ strategic reset, is expected to start crude production in 2029
  • Initial phase would yield rough equivalent of 275 million barrels
• The government’s assessment “remain on track to be completed within the statutory timeframe, currently targeting later this year”: BOEM
• BP didn’t respond to request for comment
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