BHP Billiton said the second phase of its Mad Dog offshore joint venture with BP in the Gulf of Mexico was economical at oil prices below $50 per barrel. Originally slated for development in 2013, the project has been deferred due to low oil prices and moves to reduce construction costs.
U.S. Gulf of Mexico (GoM) crude oil production is estimated to increase to record high levels in 2017, even as oil prices remain low. EIA projects GoM production will average 1.63 million barrels per day (b/d) in 2016 and 1.79 milli...
Fugro has been awarded a contract by BHP Billiton Petroleum Pty Ltd for the Pyrenees Phase 3 Installation Project. The Pyrenees development is located offshore Western Australia,
Because of the long timelines associated with Gulf of Mexico (GOM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GOM crude oil production through 2016.
Shell announced a multi-billion dollar investment to develop its major Cardamom oil and gas field in the deep waters of the Gulf of Mexico (GoM). The Cardamom project is expected to produce 50,