Edition:
United Kingdom

BHP Group Approves $696 Mln In Funding To Develop Atlantis Phase 3 Project In US Gulf Of Mexico


Wednesday, 13 Feb 2019 

Feb 13 (Reuters) - BHP Group Ltd ::APPROVED US$696 MILLION IN FUNDING TO DEVELOP ATLANTIS PHASE 3 PROJECT IN US GULF OF MEXICO.BHP APPROVES FUNDING FOR ADDITIONAL TRION APPRAISAL WELL.FIRST PRODUCTION IS EXPECTED IN 2020 CALENDAR YEAR AND IS ESTIMATED TO INCREASE PRODUCTION BY 38,000 BARRELS OF OIL EQUIVALENT PER DAY.APPROVED US$256 MLN IN FUNDING TO DRILL AN ADDITIONAL APPRAISAL WELL (3DEL) AND PERFORM FURTHER STUDIES IN TRION FIELD IN MEXICO.BHP HOLDS A 44 PER CENT INTEREST IN ATLANTIS FIELD, BP HOLDS A 56 PER CENT INTEREST.3DEL APPRAISAL WELL IS EXPECTED TO BE DRILLED IN SECOND HALF OF 2019 CALENDAR YEAR.