The project is expected to boost production at the facility by an estimated 50,000 gross barrels of oil equivalent per day, further increasing output at one of the largest oil fields in the Gulf of Mexico.

The Thunder Horse South Expansion project adds a new subsea production system roughly two miles to the south of the existing Thunder Horse platform. The system is a collection point for wells connected to the Thunder Horse platform by two 11,000-foot flowlines installed on the seabed in late 2016.

The first new well for the project tapped into the highest amount of hydrocarbon bearing sand seen to date at the Thunder Horse field, with drilling results confirming more than 500 feet of net pay. Planned for 2017, but brought online on December 8, 2016, the project demonstrates continued momentum for BP in the deepwater Gulf of Mexico where last year the company started up a major water-injection project at Thunder Horse and approved the $9 billion Mad Dog Phase 2 project, expected to come online in late 2021.

Source: Nasdaq