The US Bureau of Ocean Energy Management (BOEM) has approved the development plan for BP’s 20,000-psi Kaskida project.
BP reached final investment decision (FID) on the $5 billion Paleogene project in July 2024.
In a 16 March statement to JPT, BP said BOEM approval of the semisubmersible project “marks an important step forward for the project and is all the more important at a time of heightened global concerns about energy security and affordability.”
The development plan calls for a production semisubmersible in Keathley Canyon Block 292 in the Gulf of Mexico. The production semi is expected to have nameplate production capacity of 80,000 BOPD.
The first phase of development is expected to see six subsea wells in 6,000-ft water depth connected to the production unit. Phase one will target 275 million BOE of recoverable reserves.
Kaskida, which is 100% owned and operated by BP, was discovered in 2006, the production equipment required for a 20,000-psi field was not commercially available at the time.
“Kaskida is a world-class project that reflects decades of technological innovation” by BP and the industry, BP said.
When it begins production in 2029, it will be the supermajor’s sixth operated hub in the Gulf, and it will be followed in 2030 by the Tiber-Guadalupe platform.
Last year, BP announced it had reached FID on the Tiber-Guadalupe project, which is also a 20,000-psi development. Tiber-Guadalupe will be BP’s seventh operated hub in the Gulf, following the Kaskida, Argos, Atlantis, Mad Dog, Na Kika, and Thunder Horse developments. Argos began production in 2023.