Energy Law

The Tiber Prospect Well: BP Makes Giant Oil Discovery Deep in the Gulf

By Kerry Murphy

On Wednesday September 2, BP drilled the world's deepest oil well – the Tiber Prospect Well – and discovered a huge pool of crude oil. The Tiber well is located in the western Gulf of Mexico, southwest of New Orleans in U.S. waters. It is expected to rank among the largest petroleum discoveries in the United States, potentially producing as much oil as BP's Thunder Horse well and half as much as Alaska's famous North Slope oil field. The Tiber well is below 4,000 feet of water and more than 30,000 feet into the earth. As is common in deep-water operations, it will take years of work and millions of dollars before oil can be drawn from the well. The Tiber well promises to make a major impact on the economy of south Louisiana. Developing Thunder Horse required 'countless' workers, and created increased business for shipyards, refiners, and manufacturers and retailers of industrial equipment. For more information on the Tiber well, see http://www.nola.com/business/index.ssf/2009/09/bp_makes_giant_discovery_in_gu.html.
 

Full post as published by The Energy Law Blog on September 04, 2009 (boomark / email).