BP Oil Discovery at Far South Prospect Announced

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BP has confirmed a new deepwater oil discovery at its Far South prospect in the Gulf of America. This marks a major step in BP’s offshore expansion strategy.

The exploration well sits on Green Canyon Block 584 in the western Gulf. It lies about 6.4 kilometers north of the Constellation field.

BP drilled the Far South well to a total depth of 23,830 feet in 4,092 feet of water. Moreover, both the main and sidetrack wells encountered oil-bearing Miocene-age reservoirs. Early analysis suggests the volume of hydrocarbons could be commercially viable.

BP Expands U.S. Offshore Portfolio Alongside Chevron

BP operates the Far South project with a 57.5% stake, while Chevron U.S.A. holds the remaining 42.5%. As a result, this joint venture strengthens BP’s footprint in the Gulf of America. The region continues to attract deepwater investment.

The discovery aligns with BP’s goal to grow upstream production to 2.3–2.5 million barrels of oil equivalent per day by 2030. Of that target, around one million barrels per day will come from U.S. operations.

Furthermore, BP has made over 40 oil and gas discoveries globally in the past decade. Recent finds include fields in Egypt, Trinidad, and the Gulf of America. These results reflect the company’s sustained commitment to expanding its resource base.

Exploration Program Picks Up Speed

BP is now intensifying its exploration drive with plans to drill 40 wells over the next three years. Specifically, 10 to 15 of those are scheduled for 2025.

In addition, this announcement follows the start of production at the Cypre gas project, operated by bp Trinidad and Tobago (bpTT). Located 78 kilometers off Trinidad’s coast, Cypre is one of 10 new developments targeting a peak output of 250,000 barrels per day.

For SuperMetalPrice readers, the Far South discovery underscores renewed strength in offshore energy investments. Consequently, rising output could impact related sectors, including metals like steel, copper, and nickel—vital to energy infrastructure.

As BP increases its offshore activity, industry observers should monitor upcoming developments. The Far South prospect may signal broader exploration momentum across the global energy landscape.