BP to Make Final Decision on Mad Dog 2 Project
BP has advised that a decision is ‘sort of imminent’ on phase two of it’s Mad Dog project in the Gulf of Mexico.
Phase one has been in production off Louisiana for more than a decade, but in 2009 further discoveries were made in the southern section of the same field.
BP and its project partners have been trying to reduce project costs from a hefty $20 billion to below $10 billion.
BP’s Chief Financial Officer stated during the organisations third quarter results presentation that a final investment decision was possible in the fourth quarter of this year.
