July 29, 2008 / 3:33 PM / 10 years ago

BP sees Thunder Horse full production by end 2009

LONDON, July 29 (Reuters) - British oil major BP Plc (BP.L) said its giant Thunder Horse field in the U.S. Gulf of Mexico was currently producing over 40,000 barrels of oil per day and would reach full capacity of 250,000 bpd by the end of 2009.

Chief Executive Tony Hayward said that the first well on the southern part of the field was producing and would be followed by others this year with wells on the North part of the field to follow next year.

Exploration boss Andy Inglis told a call with analysts the result from the first well were encouraging and added:

“You need six to eight wells to fill the facility and we’d anticipate getting there by the end of 2009,”

The long-delayed field, 150 miles southwest of New Orleans, will also produce a maximum of 200 million cubic feet per day of natural gas when it reaches peak production.

Hayward told a news conference after the company reported second-quarter earnings that the project “should be onstream by the end of the year”, while acknowledging a well was already producing.

A spokesman said Hayward was likely talking about multi-well production by year end. (Additional reporting by Alex Lawler; Editing by Paul Bolding)

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